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India has once again distanced itself from the rising de-dollarization accusations. The latest update follows how India has actively denied its involvement in exploring US dollar alternatives, stressing the dollar’s evergreen role as the reserve currency, with no plans of ever replacing the asset with other notable competitors. Also Read: Belarus Expands Local Currency Usage In A Major De-Dollarization Shift India Backs Dollar in a New Update Source: Economictimes.com India has once again reiterated its former stance, adding that the nation is not intersecting with any other currency besides the USD. In a recent interview, Chief Economic Advisor of India V. Anantha Nageshwaran shared how India is not a part of any such narrative that promotes the usage of alternative currencies besides the US dollar. “No, certainly not. I think India is not part of any such initiative,” he said in response to a question if India is looking at an alternative currency to the US dollar for glob...

China is determined to dump the US dollar in global trade and is convincing other countries to follow suit. The Communist country is on a world tour, trying to upend trade rules and rewrite policies without incorporating the USD. The Xi Jinping administration has signed many deals in two years where the Chinese yuan plays a central role in cross-border transactions. The intent is to dim the lights on the greenback and make the yuan the sole currency among developing countries. Has China really succeeded in making emerging economies dump the US dollar and use the Chinese yuan? In this article, we will provide the data where the USD has failed and where the yuan has succeeded. The balanced approach will shed light on which currency is growing and which is stalling in the global financial markets. The world economy is at a pivotal point where developing countries are eager for a change and want to hold the torch of the next generation of finance. Also Read: US Dollar Value Falls as More N...

The debate about the US dollar’s dominance in global trade has seen a myriad of opposing viewpoints. While there is a growing de-dollarization sentiment, especially among developing nations, the dollar may not be at its end just yet. In fact, the greenback’s role in global economics may be growing according to some industry experts. Bank of America (BoA) strategist Ralph Axel is of the opinion that the US dollar is gaining on other currencies. Axel says that the world has been “rapidly dollarizing” over the last 10 years. De-Dollarization Just A Temporary Inconvenience? Source: Watcher.Guru There is a sentiment that the US dollar is losing steam. The figures also seem to support this notion. The US dollar index (DXY) is down 9.7% year-to-date. This is the lowest the figure has been since the 1980s. The dip has led to substantial concerns about asset managers and financial institutions potentially pivoting away from the US Dollar to other currencies and gold. Desp...

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 US dollar is suffering gravely at the moment, hitting its lowest in terms of its valuation and worth. The currency evolution has hit USD hard, with Trump’s fierce tariff policies adding more to the rising de-dollarization narratives. That being said, the US dollar is now losing its prestige gradually, shedding value, and at the same time, documenting a pivot of investors and countries dumping the US dollar for other alternatives. If this development continues, will the US dollar be able to survive it all and live to tell the tale? Also Read: How the US Dollar Can Maintain Its Global Supremacy The USD Is Plunging, And It’s Not Normal. Source: Freepik.com Per a recent post by Koyfin Charts, the US dollar is currently down 8.9% in a year, which is a depressing development to document at the moment. The currency has lately been hit from all sides, battered by Trump’s tariffs that have partially revived the de-dollarization agenda. Trump’s tariff policies have lat...

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...

It’s no longer the Asian countries that are aggressively accumulating gold in their central banks and ending reliance on the US dollar. A new European country joined the league to become the biggest buyer of gold last month diversifying its assets in the central bank and not giving foremost importance to the US dollar. If European countries start the trend of diversification in central banks, it could cause major financial havoc in the US. Also Read: 50 Countries Eye De-Dollarization & Reduce US Dollar Dependency Poland’s Central Bank Starts Accumulating Gold, Sidelines US Dollar in Reserves Soirce: Watcher Guru The new European country to accumulate tonnes of gold in their reserves and sideline the US dollar is Poland. Poland’s central bank brought 16 tonnes of gold last month making it the biggest buyer of the precious metal in March. It even raced ahead of China, India, Russia, and Brazil who were actively accumulating the glittery metal since 2022. Also Read: De-Do...

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...

Dollar strength sent the US currency to a new 13-month high on Friday. The Federal Reserve policy stance and forex market trends pushed the US dollar index up 0.08% to 107.15, its highest since October 2023. The global economic outlook remains uncertain amid tensions and volatility. Source: investing.com Also Read: Russia Legalizes Crypto Mining: How It Helps Evade Sanctions How Dollar Strength Affects Forex Markets, Fed Policy, and Global Trends Fed Policy Expectations Drive Dollar Movement Source: FederalReserve.gov CME’s FedWatch Tool shows a 57.8% chance of a December 25-basis-point rate cut, down from 72.2% last week. The Federal Reserve policy has grown more hawkish as inflation persists. Next Friday’s U.S. PCE data will be key for monetary decisions. Source: FederalReserve.gov Global Currency Impacts and Trading Patterns Latest forex market trends show pressure on major currencies. The euro fell 0.05% to $1.0469, hitting a 13-month low. Sterling dropped to $1.25705, i...

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 global markets are currently experiencing a tumultuous change. Rising geopolitical changes are giving birth to new economic changes. At the same time, the US dollar devaluation has peaked at its prime, with alternative currencies like the Chinese yuan gaining steady momentum in the space. Will the US dollar sustain such severe injuries to its prestige? Also Read: ASEAN: Steps To Ditch US Dollar Gains Momentum In South East Asia Chinese Yuan Surges To New Highs Source: Shutterstock According to the Financial Times, China’s use of the renminbi has recorded a new high in cross-border transactions. The renminbi is becoming an increasingly popular currency for cross-border transactions, with people opting for RMB to initiate global transactions. 90% of all trade between China and Russia is conducted in Ruble or Yuan after ditching the US Dollar. pic.twitter.com/kLuoGwMSL4 — BRICS News (@BRICSinfo) May 16, 2024 The usage of the Renminbi has found a new footing in Russia, as the re...