BRICS countries have been exploring the possibility of a currency that could dethrone the US dollar in multilateral trade, and this movement is only gathering steam. The USD is also…
Browsing: BRICS
Russia’s former advisor to the President has confirmed that BRICS is in the process of developing a common currency to replace the dollar. According to him, there is a need…
According to Jim O’Neil, a former chairman of Goldman Sachs Asset Management, the global dominance of the United States dollar needs to be challenged but the BRICS movement has to…
Indonesia is considering joining BRICS for economic growth and reducing reliance on the U.S. dollar. BRICS membership could open new economic opportunities for Indonesia and enhance its global influence. As…
BRICS countries like China and India save billions by trading oil in their local currencies instead of the US dollar. The BRICS alliance, now expanded with new members, aims to…
The Iraqi financial policymakers announced last week that people will not be able to withdraw the United States dollar beginning January 01, 2024, in a bid to support the Iraqi…
BRICS Bank, also called New Development Bank (NDB) has launched a 3 years plan to completely move away from the US dollar. Many crypto enthusiasts are campaigning for the adoption…
Gazprom Neft, the largest Russian oil producer and refiner, highlighted that it has successfully ditched the United States dollar for the Russian ruble and Chinese Yuan to enable seamless trade…
Brazil is calling for more funding distribution to developing economies by the IMF. Bitcoin might be a good asset to balance global economic inequality. Brazil is pressing Western-backed lenders to…
The U.S. dollar is strong due to high interest rates and robust economic data, pressuring the euro, yen, and Swiss franc. Japanese authorities are on alert as the yen nears…
BRICS nations are reducing their U.S. Treasury bonds to protect against U.S. economic policies and diversify their investments. China leads this shift, followed by Brazil and India, while the UAE…
The US dollar is under threat as BRICS looks forward to finding an alternative currency. It is rumored that Bitcoin could be considered for this move as it ticks all…
BRICS nations are forging ahead with plans to de-dollarize and limit the United States’ global influence. The bloc is rumored to be working on a common currency that would be…
India and the UAE have advanced efforts to conduct cross-border trades without the US Dollar. This aligns with the BRICS effort to de-dollarize their respective economies. Some member countries of…
BRICS has expanded from 5 member states to 11 with the new members strengthening the bloc’s security in global energy influence. It is estimated that the bloc will cover nearly…
Elon Musk has shared his views on why BRICS nations and the ASEAN bloc of nations are seeking to ditch the US Dollar. Musk has termed it as a serious…
Several US cities including Austin, Philadelphia, and Santa Clara have been handing out cash to lower-income earners to understand the economic implications. More American investors amounting to over 54 million…
The difference in perception among BRICS nations is impacting the de-dollarization efforts. Should the de-dollarization agenda intensify, Bitcoin remains a viable replacement. Member countries of the BRICS Group (Brazil, Russia,…
BRICS has expanded, adding six new nations to its bloc and strengthening its economic reach. Already hoarding gold, speculators are still optimistic that the coalition could seek Bitcoin (BTC) as…
BRICS takes a similar stance as the ASEAN bloc by ditching the US Dollar while they consider a common currency for international trade. Bitcoin is rumored to be under consideration…