A leading member of the New Patriotic Party (NPP), Gabby Otchere-Darko, is questioning the relevance of the United States Dollar in the world market.

Mr Octchere-Darko believes that the importance of the US currency would not be as it was decades ago in some time to come.

He made this assertion following Kenya's decision to now purchase fuel using its shillings instead of the dollar.

According to President William Ruto, the country has “managed to put together a programme that has taken us away from looking for USD500 million every month to buy our fuel needs, which was slowly snowballing into a crisis."

Analysing the fact that Kenya would save USD500 million monthly, Mr Gabby Octhere-Darko quizzed “Are we seeing a new and sustainable global paradigm of de-dollarisation?”

Kenya expects to see an appreciation of the shilling as pressure on the dollar declines.

The dollar has in recent months come under severe scrutiny in its position as the main medium of global trade, Brazilian president Lula da Silva recently questioned the ‘might’ of the dollar asking why countries cannot trade in their own currencies.

In the case of Ghana, the exchange rate was a huge issue through last year, along with galloping inflation and high cost of living; the government admitted an economic downturn which pushed it to seek a US$3 billion bailout with the International Monetary Fund (IMF).