Tourism is perhaps the most obvious area where consumers feel the impact of rigid currency exchange and settlement systems. They feel it every time they have to convert Singapore dollars into another currency while travelling overseas.
The idea of de-dollarisation is sometimes promoted as implying the collapse of the US dollar. The move away from the US dollar for everyday transactions and international trade settlement displaces it from its sole dominant position.
International trade settlement now has a genuine choice about how payments can be made and currency risk managed. That is an important change in international trade and is increasingly affecting consumers.
