BRICS Bank NDB Shifts $2.1B in Local Currency Loans—Dollar Dominance Wobbles?

The New Development Bank (NDB) just fired a $2.1 billion shot across the dollar’s bow—issuing loans exclusively in BRICS local currencies. Is this the beginning of the end for greenback hegemony?

De-dollarization by the numbers

No USD, no euro—just hard-hitting local currency deals. The NDB’s latest move signals a tectonic shift in global finance as BRICS nations sidestep traditional reserve currencies.

Why this stings Wall Street

Every local currency loan chips away at dollar dominance—and threatens the West’s favorite financial weapon: sanctions. Suddenly, those SWIFT cutoffs don’t look so fatal.

Finance traditionalists scoff, but $2.1 billion in non-dollar deals proves the trend isn’t theoretical—it’s funded. (Cue the ‘this changes nothing’ op-eds from bankers who absolutely aren’t sweating.)

NDB: BRICS Bank Issues Loans in Chinese Yuan & South African Rand Local Currencies

The NDB bank has issued loans in both local currencies such as the Chinese yuan and South African rand. Loans worth $1.8 billion were lent in the Chinese yuan while the rand was worth $284 million. The Indian rupee is also in line to be the next local currency for loans in the NDB bank.

The bank is in talks to issue loans in the Indian rupee which could be disbursed in 2026. Overall, national currencies are being in line for loans in the BRICS bank making the alliance stronger and united. Countries in Africa and Southeast Asia are accepting the national currencies as it saves millions in foreign exchange charges. BRICS member Russia recently confirmed that it is working with the NDB bank to manage finances in local currencies.