BRICS Dumps the Dollar: 65% of Trade Now Settled in Local Currencies

The dollar’s dominance takes a hit as BRICS nations pivot hard toward local currencies—65% of cross-border trade now bypasses greenback entirely. No more middleman, no more SWIFT delays.

De-dollarization accelerates: Gold-backed settlement systems and direct currency swaps gain traction. Watch for liquidity crunches in emerging markets as the experiment scales.

Wall Street shrugs—for now. ’Another doomed petrodollar challenger,’ quips one trader, before glancing nervously at his BRICS bond holdings.

BRICS: 65% of Trade Among Members Settled in Local Currencies

The dollar’s share in trade settlements is dropping massively as BRICS is safeguarding their economies from US sanctions and tariffs.Lavrov said during a meeting in Brazil.

the minister added.

Many other countries are sitting on the sidelines and could follow the de-dollarization agenda when the stage is set. Several countries in Africa, Eastern Europe, and Asia are considering following BRICS and using local currencies for trade settlements and not the US dollar. The move would wreak havoc on the American economy if the White House fails to import the dollar globally.