ASEAN Dumps the Dollar: Regional Powers Strike Local Currency Trade Pact

Greenback’s grip loosens as Southeast Asian nations sidestep USD dominance—opting for homegrown currencies in cross-border deals. No more begging for Uncle Sam’s permission slips.

De-dollarization goes mainstream: ASEAN’s move signals a quiet rebellion against SWIFT, Treasury bonds, and the whole fiat cabal. Traders, meet your new FX risk.

Bonus cynicism: Wall Street analysts already drafting reports on how this ’undermines stability’—translation: cuts their FX arbitrage margins in half.

ASEAN Summit: China & Indonesia Sign Deals to Transact in Local Currencies, Not US Dollar

Indonesia’s President Prabowo Subianto praised China’s Xi Jinping for extending trade policies and upending the US dollar’s supremacy.reported the Economic Times.

Subianto also hailed Jinping forand not giving in to US pressures. He described Indonesia’s relations with China asThe ASEAN 2025 summit is concluding with the de-dollarization agenda as local currencies take precedence and not the US dollar.

ASEAN took de-dollarization seriously after TRUMP imposed tariffs on 185 countries but announced a 90-day pause. The damage is already done and now developing countries are finding ways to protect their economies. ASEAN, especially Indonesia’s deals with China in local currencies and not the US dollar is a major step in de-dollarization.