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Two BRICS Nations Drop US Dollar in Trade Amid De-Dollarization Push
Two BRICS Nations Drop US Dollar in Trade Amid De-Dollarization Push
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The US dollar faces mounting pressure as two BRICS nations—Iran and Venezuela—formally abandon the currency for bilateral trade. This accelerates a five-month de-dollarization trend that has rattled forex markets, with the greenback posting its worst annual opening performance on record.
Geopolitical tensions flare as the TRUMP administration threatens 150% tariffs on the bloc, signaling a broader confrontation over reserve currency dominance. Market analysts warn the dollar's weakness may deepen as more nations explore alternative settlement mechanisms.
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