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BRICS BOOM: Local currencies dominate, dollar loses ground!
BRICS trades 65% in local currencies, declining USD usage signals strategic shifts. Summit in October.
BRICS BOOM: Local currencies dominate, dollar loses ground!
BRICS shock: Dollar dominance is crumbling! An incredible upheaval is hitting the financial world: the powerful BRICS alliance has settled an impressive 65% of its trade in local currencies and pushed the US dollar down to a shock value of under 35%! The days of dollar dependence appear to be numbered as the alliance says goodbye to Western-dominated currencies. This dramatic turnaround came after the US imposed sanctions on Russia, prompting Moscow and Beijing to rely on local currencies for international transactions - with success, how according to information from watcher.guru is reported.
Russia's Finance Minister Anton Siluanov confirmed in an interview: "65% of all settlements within the BRICS are made in rubles, in national currencies." The share of the dollar and the euro continues to fall. The upcoming BRICS summit from October 22nd to 24th in Kazan, Russia, is all about this revolution. President Vladimir Putin will chair the event, where de-dollarization and the admission of new members will be debated. An exciting show of superpowers that makes the financial world tremble!