IDEAS home Printed from https://ideas.repec.org/a/fip/fedreb/93820.html
   My bibliography  Save this article

What Is SWIFT, and Could Sanctions Impact the U.S. Dollar's Dominance?

Author

Listed:
  • Russell Wong

Abstract

The recent removal of Russian banks from the SWIFT messaging system has highlighted the importance of payments in supporting economies. But the weaponization of SWIFT has also left some commentators worrying about the loss of the U.S. dollar's dominance, as it might drive banks and firms to other substitutes. This Economic Brief discusses the economics of SWIFT and explains why emigrating from the U.S. dollar may be more difficult than we thought.

Suggested Citation

  • Russell Wong, 2022. "What Is SWIFT, and Could Sanctions Impact the U.S. Dollar's Dominance?," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, vol. 22(09), March.
    • Handle: RePEc:fip:fedreb:93820
    as

    Download full text from publisher

    File URL: https://www.richmondfed.org/publications/research/economic_brief/2022/eb_22-09
    File Function: Article
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    SWIFT;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedreb:93820. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Christian Pascasio (email available below). General contact details of provider: https://edirc.repec.org/data/frbrius.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.