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The US dollar’s dominance in global trade has seen a steady decline over the last decade. Many nations have opted for local currencies for mutual trade. The BRICS bloc of nations has particularly pushed for de-dollarization. BRICS is comprised of Brazil, Russia, India, China, South Africa, and a few more member states. China has single-handedly propelled the idea of ditching the US dollar for alternative currencies. Albeit the CCP will likely not accept any other currency than the yuan. Also Read: Goldman Sachs: MAG7 Hits 7-Year Low Amid AI, Trade & Antitrust Fears CBDCs And China’s CIPS Further Push For De-Dollarization Source: Watcher Guru Also Read: $1,000 in Shiba Inu & XRP: Which Will Give Better Returns in 2030? A majority of global central banks are working on CBDC (Central Bank Digital Currency) pilot programs. According to reports, around 130 countries (93% of central banks) are exploring CBDCs to enhance cross-border payment efficiency. An efficient and working CBD...

BRICS currency is the talk of the town lately as the alliance is looking to trounce the US dollar’s dominance. Brazil, which chairs the upcoming summit in July confirmed that the bloc is working on a new payment system where non-members will be allowed to settle transactions. The development could be a game-changer after launch as the US dollar will not be incorporated into the payment mechanism. Also Read: De-Dollarization Reaches European Shores: EU Questions US Dollar Usage The threat of a BRICS currency is looming large and the superiority of the US dollar remains under pressure. Developing countries want to disassociate with the USD as it carries the risk of debt. Holding it in their central banks without diversifying their assets leads to bigger financial issues, including absorbing inflation. Emerging nations are turning to protectionists in a bid to safeguard their economies from America’s debt. Also Read: BRICS Makes Huge Announcement On New Payment System Will BRIC...

China is making big moves to advance the de-dollarization agenda and is dumping billions of US dollars and Treasuries. The Xi Jinping administration is fighting tooth and nail against Trump’s tariffs by imposing equal tariffs on the US. The Communist nation raised tariffs to 125% on Friday in the latest escalation of the ongoing trade wars. The reciprocal tariffs went from 84% to 125%, and Beijing made it clear that they won’t go any higher. Also Read: De-Dollarization: Elon Musk Warns On The Future Of The US Dollar The latest data indicates that China has dumped $22.7 billion worth of US dollars and Treasury bonds and is consistently decreasing its holdings. The government is slowly yet steadily getting rid of all US debts and remaining free from market fluctuations stemming from the American economy. The dumping of the US dollars and Treasury bonds furthers the de-dollarization agenda making the US economy feel the heat. Source: US Treasury Department Also Read: De-Dollari...

The BRICS alliance is aiming to launch a new currency to challenge the US dollar and topple it from the world’s reserve status. The bloc came to a consensus that a new tender is required for its survival after the White House pressed sanctions on Russia. Developing nations believe that the US is weaponizing the greenback to make other countries fall in line with its policies. The rift between the East and West is growing as emerging economies want to hold a dominant role in global finances. Also Read: BRICS: US Dollar Is Now an Unreliable Currency, Say Analysts BRICS Currency: What Are the Advantages & Benefits? Source: Cryptopolitian.com The first and foremost advantage of launching a BRICS currency is the diminishing influence of the US dollar in the global sector. The greenback cannot influence financial developments and reduce its power to any other local currency. The move would encourage developing nations to come together and remain united in advancing the de-dollarization ...

BRICS member India is repeatedly making it clear that they will not ditch the US dollar for trade and transactions. India’s Foreign Minister S. Jaishankar spoke in the Parliament regarding the de-dollarization agenda and the country’s role in it. He confirmed that India is steering off any anti-dollar moves amid US President Donald Trump’s tariff threats. Also Read: BRICS: New Country Plans to Reduce 25% of Trade Without US Dollar “BRICS, a platform that has grown in membership and agenda over the last two decades, seeks to enhance understanding among the international community,” said Jaishankar in response to a question in the Lok Sabha Parliament. Trump had threatened to impose tariffs on India and all BRICS nations if they plan to reduce dependency on the US dollar. Jaishankar added that India has conveyed its stance to the US authorities during bilateral discussions that they will not pursue the BRICS agenda of sidelining the US dollar. Therefore, the de-dollariz...

Donald Trump is back in the White House and is steadily focused on one agenda only, which is to make America great again. His MAGA efforts are also directed towards bolstering the US economy and, in turn, robusting the US dollar by making it one of the strongest currencies ever to exist. His aggressive tariff policies are directed towards extinguishing threats against the American regime and curbing the rising de-dollarization narratives that have lately been gaining steam. Here are two ways in which Trump’s aggressive tariff gamble may turn out to be the most promising strategy for boosting the US dollar. Also Read: Can Dogecoin Surge to $2 if a DOGE ETF Gets The Green Light? Donald Trump and His US Dollar Strengthening Formula: Tariffs Source: MarketWatch Trump is currently on a solid mission to deploy tariffs on nations. These tariffs have been levied primarily to help the US economy gain momentum and traction on a global pedestal. This development also aims to strengthen US ma...

BRICS member Russia confirmed that it has settled 80% of trade with its neighboring country Kazakhstan in local currencies and not the US dollar. Russian President Vladimir Putin confirmed the development saying that both nations have agreed to strengthen their trade ties. Also Read: BRICS Moving Away From the De-Dollarization Agenda “The problem is and partly remains but we have already transferred more than 80% of all settlements to national currencies. From my point of view, everything should be done to strengthen our ties,” said Putin. Russia is advancing the BRICS de-dollarization initiative to its neighboring countries by putting the US dollar behind local currencies. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Local currencies will strengthen in the forex markets and give developing countries a boost in the arm. This puts the US dollar’s hegemony at risk as emerging economies are looking to topple it as t...

The US political arena is undergoing a transformative change. With Trump taking over the White House, the US anatomical structure is in the queue for a revamp, the kind that prioritizes the glorious American legacy above all. Trump’s recent comments about protecting American integrity by curbing the calls for de-dollarization are set to play a central role during his term, which may kickstart the era of “re-dollarization” as the Trump-Musk duo continues to put leashes on forces eroding the integrity of the United States. Also Read: Massive Crypto Whale Buys 200 Million Dogecoin Worth $45 Million De-Dollarization End: Trump’s US Dollar Revival Strategies May Boost The Greenback Source: MarketWatch Elon Musk was recently crowned as the head of the Department of Government Efficiency, or DOGE. Trump had briefly mentioned Musk’s political debut in one of his electoral rallies, adding how the Tesla CEO’s guidance could prove lucrative for the domain. Today, Musk took to X to shar...

The BRICS alliance has invited three countries to attend the 2024 summit in October this year. The 16th summit is scheduled to take place in the Kazan region of Russia on October 22 to 24. The expanded nine-member alliance will discuss bilateral trade, ways to promote local currencies, and new ways to settle cross-border transactions. The de-dollarization agenda will also be discussed on how to end dependency on the US dollar. Also Read: BRICS: No De-Dollarization, Countries Use China When It Suits Them Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. The development will kick-start a paradigm shift in global finances and directly challenge the US and other Western allies. The upcoming BRICS 2024 summit will play a prominent role in the future of the US dollar. Also Read: BRICS No Longer Attaching Importance to the US Dollar BRICS 2024 Summit: Alliance Sends Invitations To 3 Countries Source: Valery Sharifulin (TASS) The BRICS bloc ha...