BRICS: Where Does the US Dollar Rank in the Top 12 Currency List?
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...