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The writing is on the wall, the world is less inclined to use the US dollar hereafter. While the US dollar’s exorbitant privilege persists, the symbolism from the BRICS alliance throws shade on the greenback. BRICS members India and Russia are paying for oil deals in the rupee, while China and Brazil are settling soybean exchanges in the Chinese yuan. The shift is glaring, and the bloc is willingly pushing local currencies to the forefront, giving the US dollar a miss. The bloc discussed grain exchange policies to boost trade ties in the grains and agricultural sector in September. Local currencies were prominently pushed forward for settlements, putting the US dollar out of the equation. Russia and India held constructive meetings on Friday, signing major agriculture deals benefiting both countries. BRICS members China and Brazil inked trade deals for soybeans, and the transactions will be settled in the Chinese yuan, while India and Russia’s deal will be settled in the rup...

The currency wars have now intensified, with the US dollar being bitten and gnawed from all nooks and corners. The dollar is currently losing its mettle in the forex market, as new competitors emerge to rattle the USD. The US tariff ordeal has already weakened the US dollar. The fact that the American currency is now at risk of losing its reserve currency status is also an important issue that is gaining traction in recent times. The multipolar currency world is also threatening the US dollar, with other currencies eyeing the reserve status due to the USD’s continued weaponization and increased institutional hegemony. Here’s how the American currency is being dumped globally right now. Also Read: Dirham Stablecoin Launch by IHC, ADQ & FAB Eases UAE Crypto Risks Three Ways Through Which Nations Are Moving Away From The USD 1. Nations Diversifying Into Gold Source: Watcher Guru The price of gold has hit a record high, as nations continue to hold gold in large quantities. The move ha...

The current US elections have made one thing strictly clear: the policies to uplift the US economy will take preference no matter what. Measures to curb the ongoing de-dollarization drives have already started to stir the economic structure as news of Trump unveiling plans to levy 100% taxes on countries moving away from the dollar went viral on all global fronts. However, these stringent measures may have accompanied some severe repercussions. On the one hand, they may play a pivotal role in determining the prosperity of the United States. Still, at the same time, they may disrupt the global trade order by pushing these 5 ASEAN nations away, compelling them to ditch the US dollar. Also Read: Shiba Inu’s Shytoshi Kusama: New Proposal for Next US President Trump Vows To Protect The US Dollar, Plan To Impose Taxes On Nations Ditching USD Source: NBC News Former US president Donald Trump has made several bold statements while participating in his electoral campaigns this season. In one of...

BRICS is spreading the de-dollarization initiative around the world, but the majority of countries are rejecting the idea by increasingly using the US dollar for trade settlements. While countries that are like-minded to BRICS are considering de-dollarization, the majority of nations don’t align with the initiative. Also Read: BRICS: U.S. Dollar Crisis Could Begin in 2025 The latest data from SWIFT payment messaging system shows that trade settlements in the US dollar have increased by 9%. That’s the most in 12 years despite BRICS trying to convince other countries to ditch the US dollar through de-dollarization. The share of the US dollar’s global payments has touched a record 49% in 2024, the highest in 12 years. Also Read: Local Currency That Challenged the US Dollar Fails, Dips 40% BRICS De-Dollarization Fails: Payments in US Dollar Surges 9%, Euro Dips 18% Source: Forbes / iStock While the US dollar’s global payments rose by 9%, the Euro’s share plumme...