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BRICS Shifts 65% of Trade to Local Currencies, Challenging US Dollar Dominance
BRICS Shifts 65% of Trade to Local Currencies, Challenging US Dollar Dominance
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BRICS nations have settled over 65% of their trade transactions in local currencies, significantly reducing reliance on the US dollar, according to Russian Foreign Minister Sergey Lavrov. Only a third of payments now use the greenback, marking a pivotal shift in global forex markets as developing economies assert financial independence.
The accelerating de-dollarization trend poses structural risks to US economic sectors tied to currency hegemony. Cross-border trade mechanisms are being rewritten as BRICS local currencies fill the vacuum left by the retreating dollar.
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