BRICS Bank Shakes Up Global Finance: Loans in National Currencies to Challenge Dollar Dominance

The BRICS New Development Bank just dropped a financial bombshell—it''s pivoting to local-currency loans, sidestepping the US dollar''s stranglehold on global trade.

Dollar dominance? Not if BRICS has anything to say about it. The move could rewrite the rules of international finance—or at least give central bankers something to hyperventilate about during their next Basel Committee meeting.

Here''s the kicker: This isn''t just geopolitical posturing. By cutting out dollar conversions, borrowing nations save on exchange rate risks—because nothing says ''development'' like avoiding the Fed''s monetary policy whims.

Will it work? Ask the currency traders already scrambling to adjust their algorithms. One thing''s certain: The dollar''s exorbitant privilege just got a BRICS-sized reality check.

*Cynical finance jab: Watch Western banks suddenly discover the virtues of ''currency diversity''—right after they finish shorting emerging market forex reserves.*

BRICS Bank: Russia Working Towards NDB Financing Loans in National Currencies

Ryabkov explained that BRICS Bank President, Dilma Rousseff WOULD take necessary steps to meet the goals of financing in national currencies.Ryabkov said.

he said. He stressed that sanctions from the White House are affecting the way how the bank functions.

He also lashed out at the recent tariffs and trade wars that dislodged the normal FLOW of global trade.the official said. However, he did not specify when would the BRICS Bank start disbursing loans in national currencies.