Analysis futures of Global Monetary Order and its effects on the international banking system of Iran

According to the latest report of the International Monetary Fund, the share of the US dollar in the total foreign exchange reserves of the worldchr('39')s central banks is about 63%, while the share of the Euro is 20% and the share of the Yuan is 2.5%. This study argues for the hegemonic position of the dollar in the world economic system and then tries to understand the future scenarios of this position. The ultimate goal of this study was to analyze the solutions of Iranchr('39')s international banking system to deal with the position of the dollar in the global financial system. In this regard, a qualitative research has been conducted by qualitative content analysis method with the presence of 15 experts in the field of international banking. The data collected through semi-structured interviews have been analyzed and the results indicate that: Continuation of dollar hegemony, replacement with another national currency, strengthening of multilateral currencies and replacement with digital currencies are the four future scenarios of the global financial system. Subsequently, the solutions of Iranchr('39')s international banking system to deal with it are: development of strategic financial relations with China, conclusion of multilateral monetary agreements, exploitation of digital currencies, and use of non-bank trade mechanisms.