BRICS Accelerates De-Dollarization with 67% of Trade Settled in Local Currencies

BRICS nations have reached a pivotal milestone in their de-dollarization efforts, with Russian Foreign Minister Sergey Lavrov confirming that 67% of cross-border trade is now conducted in local currencies. The US dollar accounts for just 33% of settlements—a stark reversal from traditional dominance.

The shift reflects growing economic sovereignty among emerging markets. "The dollar’s share declined to one-third," Lavrov stated, underscoring the bloc’s deliberate move away from Western financial systems. This realignment could Ripple through US export sectors reliant on dollar hegemony.

While no cryptocurrencies were explicitly mentioned in the announcement, the trend toward monetary diversification aligns with crypto’s foundational ethos. Assets like BTC and XRP—often positioned as alternatives to traditional settlement rails—may see heightened interest as BRICS members deepen local currency usage.