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BRICS countries are looking to push their local currencies into the top 12 currency list and surpass the US dollar. The attempts to usher the world into a new financial era are ongoing as emerging economies now want to tilt the power from the West to the East. Central banks of developing countries are diversifying their reserves with gold and other assets and cutting down on the USD. Also Read: BRICS: 71 Countries Settled Trade Without the US Dollar Emerging economies are displaying a cold shoulder to the US after the recent trade wars and tariffs blow up. They are now looking to safeguard their economies and to help sustain their GDP by themselves. The BRICS bloc is also convincing other countries to use their local currencies more and not the US dollar. The development is strengthening other local currencies making it come under the top 12 currency list. BRICS: The Latest Top 12 Currency List: Where Does the US Dollar Stand? Source: Freepik.com The US dollar stands in the 10th positi...

The United States’ global relations have been at the forefront of geopolitical affairs throughout this month. Amid an influx of America-first trade policies, several global collectives have warned over the protectionist approach. Now, the BRICS bloc is positioning itself, alongside US policy, to either drive a new dollar down cycle or push the currency closer to collapse. At the start of his return to the White House, US President Donald Trump had assured the importance of the greenback’s global status. Indeed, he said that the dollar’s loss of status as a global reserve currency would be akin to “losing a war.” Now, his administration is being confronted with a weakening currency and an influx of global policies to help facilitate its struggle. US Dollar in Concerning Predicament as BRICS & United States Policy Drive It Down Source: iStock Also Read: BRICS: Payments in Chinese Yuan Increased to 24% in 2025 Just one week ago, Goldman Sachs gave a gloomy pre...

BRICS member China officially rolled out a plan to promote its own payment system to replace SWIFT. The Communist country aims to reduce US dollar dependency to confront Washington’s aggressive stance on trade and tariffs. The new plan was jointly released by the Shanghai municipal government and the People’s Bank of China, the country’s central bank. Also Read: BRICS: India Plays ‘Double Game’ With the US Dollar? The new payment system from BRICS member China will incorporate the Chinese yuan through the Cross-Border Interbank Payment System (CIPS). China wants to leverage its dominance in the manufacturing and trade sector and push the Chinese yuan for settlements. Also Read: Illinois Analyst Predicts If BRICS Currency Can Replace the US Dollar BRICS: China Will Take on SWIFT Through CIPS Payment System Source: silkroadbriefing.com The BRICS country China revealed that it will “enhance the functionality” of CIPS and challenge the Western-dominated SWIFT payment system. “...

Despite the growing tensions between both the BRICS economic alliance and the US, the Western power and Russia are reportedly nearing a “major economic” deal, according to US President Donald Trump. Indeed, Trump took to Truth Social to discuss ongoing negotiations with both Moscow and Ukraine to end the war amid its three-year anniversary. In the post, Trump recalled a meeting with French President Emmanuel Macron and Canada’s Prime Minister Justin Trudeau that took place Monday. He noted that, amid hopes between the three of ending the war, he was nearing a signed “Critical Minerals and Rare Earth’s Deal” with Ukraine. Therefore, the President claims he is nearing a deal with both nations to end the ongoing military conflict. JUST IN: President Trump says he's in "serious discussions" with Putin to end the war and make a "major economic" deal with Russia. pic.twitter.com/uYcKA72Ept — Watcher.Guru (@WatcherGuru) February 24, 2025 Also Read: BRICS: U...

The decade-long de-dollarization drives have always been a key highlight of the global political demographics. With BRICS and ASEAN fueling the aforementioned narrative, the world has often noted de-dollarization outcries, with the US dollar struggling to hit a new high. The momentum has now changed. With Trump ascending to the US political throne, the US dollar is now stronger than ever, crushing competitor currencies unlike anything else, giving rise to a new phenomenon dubbed anti-de: dollarization. Also Read: Dogecoin: 3 Ways Elon Musk Could Influence Doge’s Price Post Jan 20 Anti De-dollarization: A New Wave Emerges Source: Watcher Guru So far, we’ve often noted global outcries compelling nations to ditch the US dollar. The US dollar has been touted as a great tool of “weaponization,” capable of disorienting regimes by slapping new sanctions on a myriad of nations. This development has toppled the US dollar to new lows, with nations contemplating alternate plans to seek refug...

There is no doubt that the US dollar dominates global payments but the scale and size of its transactions are shrinking lately. A handful of developing countries are cutting ties with the US dollar accusing the White House of weaponizing the currency. BRICS kick-started the de-dollarization agenda to challenge US supremacy and bring the dollar down from the world’s reserve currency status. Also Read: Top Economist Predicts the Future of BRICS Currency The initiative seems to be working as global payments in the US dollar dipped below 50% in October 2024. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: BRICS Countries React to Trump’s 100% Tariff Threats BRICS: Payments in the US Dollar Dip to 47% in October 2024 Source: stock.adobe.com The latest data from the SWIFT payment messaging system shows that the global share of transactions in the US dollar has fallen to 47% in October 2024. The Euro comes second at 23% whil...

De-dollarization is changing global finance in 2024. BRICS nations are moving away from the US dollar. They’re turning to cryptocurrency and Bitcoin instead. New data shows a major shift. The US dollar now makes up only 58.2% of global FX reserves. Also Read: Shiba Inu: What’s SHIB’s Price If 99% of Tokens Are Burnt? Exploring the Role of Cryptocurrency in Global De-dollarization Efforts Source: Watcher Guru Shifting Reserve Patterns BRICS+ countries hold 42% of global central bank reserves. They’ve cut their US dollar holdings sharply. The numbers tell the story. Dollar holdings dropped from 70.7% in 2000 to 58.2% in 2024 due to the de-dollarization movement. At the same time, they bought more gold. Chinese President Xi Jinping stated: “There is an urgent need to reform the international financial architecture, and BRICS must play a leading role in promoting a new system that better reflects the profound changes in the international economic balance of power.” ...

BRICS member China’s local currency, the Chinese yuan, has fallen into unchartered waters after Trump’s election victory early this month. The Chinese yuan has fallen to its 14-month low after Trump reclaimed the White House by defeating his Democratic rival Kamala Harris. Local currencies are now under pressure as the DXY index, which tracks the performance of the US dollar soared to 107 on Thursday. Also Read: BRICS: De-Dollarization Is Unstoppable The US dollar spiked 0.51 points on Thursday surging by 0.48% in the day’s trade. The strengthening of the US dollar is making local currencies dip to new yearly lows. A resurgence from here could be tough as the broader US market remains in the bullish phase filled with optimism. Therefore, the local currencies of BRICS nations like the Chinese yuan are under pressure after Trump’s victory. Also Read: BRICS: 28% of Trade Settled in Cryptocurrencies: Deutsche Bank BRICS: Trump Looks to Trounce the Chinese Yuan Source...

Former Goldman Sachs Chief Economist Jim O’Neill, who coined the abbreviation ‘BRICS’ in a Global Economic research paper in 2001, spoke about the upcoming common currency during an interview with Business Today. The 16th summit in Russia’s Kazan region ended on Thursday with several developments and announcements taking place at the gathering. Also Read: The Gloves Are Off: BRICS Is Officially Challenging the US Dollar The first development was a mock-up BRICS currency given to Vladimir Putin showcasing the need for a common tender. The alliance is looking to end reliance on the US dollar and settle payments in the common currency. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: Western Leaders React to BRICS 2024 Summit Former Goldman Sachs Economist Predicts the Future of BRICS Currency Source: Business Today TV The ex-Goldman Sachs Economist O’Neill, who coined the phrase BRICS is skeptical...

The BRICS alliance received applications for membership from countries in Asia, Africa, South America, and Eastern Europe. For the first time, BRICS has officially received an application to join the bloc from a developing country in North America. This puts the spotlight on the US as neighboring nations are finding the de-dollarization agenda lucrative. Also Read: BRICS Country Rejects De-Dollarization, Embraces the US Dollar Around 48 countries have now applied to join BRICS before the October 2024 summit. While 27 countries have formally applied to join the alliance, 21 nations have informally expressed their interest in BRICS membership. Read here to know the major sector that will be impacted if BRICS ditches the dollar for trade. Also Read: BRICS: 12 Countries Ditch US Dollar, Pay 85% Trade in Local Currencies BRICS Membership: North American Country Cuba Applies to Join Alliance Source: The National Interest The North American country Cuba has officially applied for BRICS member...

BRICS member China has begun rejecting about 80% of all payments made in the Russian ruble, reported media outlet Kommersant. Chinese banks have now started to delay accepting Russian rubles for several weeks before ultimately rejecting them. The Russian state-run media outlet confirmed the development citing various sources and officials on the condition of anonymity. Also Read: 2 BRICS Countries Advancing Towards Launching New Currency The rejection comes on the heels of several successful trade deals between China and Russia since 2021. The trade between the two BRICS members soared 121% in three years making the Chinese yuan and Russian ruble the center of all transactions. BRICS: No Entry For the Russian Ruble in Chinese Banks Source: AtlanticCouncil.org Chinese banks are rejecting the Russian ruble as the US unveiled a new wave of sanctions. The US sanctions target several Russian financial institutions, including leading businesses, multinational corporations, and high-net-worth...

The BRICS alliance kick-started the De-dollarization agenda in 2022 after the US pressed sanctions on Russia for invading Ukraine. Russia and China started the De-dollarization agenda by showing developing nations that their economies are under threat from the US. They convinced other countries that the US could sanction their economies at any time. This led to fears that their economies were not safe and the need to safeguard their currencies from the US dollar. Also Read: BRICS To Accept Local Currencies for Fish Exports, Sideline US Dollar The US Treasury Secretary Janet Yellen also confirmed that sanctions led BRICS to kick-start the De-dollarization agenda. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. In this article, we will highlight the three important steps that BRICS took to start the De-dollarization narrative. Also Read: More Countries Are Looking To Join BRICS Alliance BRICS: 3 Ways De-Dollarization Initiativ...