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The DXY index, which tracks the performance of the US dollar has been failing to climb above the 100 range for two months. The greenback is failing to hold on to its resistance level and is slipping back to the 98-99 range after it touches the 100 mark. On the other hand, local currencies are rising in the charts and delivering better performance than the USD. The BRICS currencies are also surging in value, and taking the recent developments into consideration, Morgan Stanley has painted a bearish picture for the US dollar. Source: MarketWatch As BRICS looks to uproot the US dollar, leading global investment bank Morgan Stanley has predicted that the US dollar could decline by another 9% in the indices. The forecast estimates that the greenback’s DXY index could fall to the COVID-19 level low. The global bank wrote that the greenback could fall to the 91 level next losing considerable value. That’s a five-year low and is a steep decline despite the market recovering from the...

De-dollarization is gaining momentum in Asia as major companies are turning their backs on the US dollar and demanding local currencies instead. Large corporations and institutional funds are placing bets on local currencies and not the world’s reserve. The latest data from Bloomberg shows that firms are receiving more requests, including hedges that sidestep the US dollar. Also Read: Ethereum Pectra Upgrade Price: ETH Surges 18% to $2,200 De-Dollarization: Companies Want Local Currencies, US Dollar Getting Sidelined Source: Reuters / Getty Images Local currencies such as the Chinese yuan, Hong Kong dollar, Emirati dirham, and the euro are gaining momentum. In addition, a bank in Indonesia is setting up a desk to disburse loans in the Chinese yuan and not the US dollar. Another data shows that the vast majority of foreign-exchange trades that have been using the US dollar are shifting towards local currencies. De-dollarization gained wings in 2025, and local currencies are slowly ...

Brazil has firmly positioned itself at the forefront of the growing de-dollarization movement within BRICS nations right now, and is actively championing dollar-free trade as well as promoting local currencies for international transactions. This represents, at the time of writing, a significant challenge to the U.S. dollar’s long-established role as the primary global reserve currency. BRICS Member Pushes De-dollarization—Nations Ditch the U.S. Dollar Source: Bitcoin.com Brazil’s Finance Ministry has made its de-dollarization stance quite clear as the country has recently assumed the BRICS chairmanship in 2025. Secretary Tatiana Rosito from Brazil’s Finance Ministry stated: “The trade in local currencies is already underway, for example, between Brazil and China. No obstacles exist to that on the side of Brazil.” The expanded BRICS alliance—which now includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and also the UAE—is ...