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BRICS countries India and Brazil have vowed to triple their trade flows with new partnerships in the short term. India and Brazil officially signed several deals this month, which include the trade of cotton, chicken, and other food items. According to the report from India’s Prime Ministerial Office (PMO), the roadmap for new deals will include industrial partnerships, nutritional security, and energy transition. “Our $12 billion trade flow is not up to par with our economies,” said Brazilian President Lula da Silva. “We are determined to accelerate this goal, tripling this amount in the short term,” he said. Brazil and India’s upcoming partnerships will come when Trump is openly threatening BRICS countries against anti-American policies. The US President has been repeatedly launching tirades against the growing influence of the 10-member bloc. Also Read: Trump’s 25% Tariff on India Puts BRICS Unity to the Ultimate Test BRICS Countries India & Brazil To Triple Trade Partn...

BRICS member India spoke about the BRICS currency formation that could make its way into the global markets. The timeline for the launch could be much longer than expected as the development has not picked up steam. The alliance floated the idea of a common currency in 2023 to take on the US dollar’s hegemony. Russian President Vladimir Putin also displayed a mock-up bill during the 16th summit in Kazan last year, indicating that its launch is imminent. Also Read: Payments in National Currencies To Increase After BRICS 2025 Summit India Spills the Beans on BRICS Currency Formation Source: Watcher Guru Dammu Ravi, India’s Sherpa and Secretary (Economic Relations) in the Ministry of External Affairs spilled the beans on the currency formation. Ravi confirmed that the discussions and development of a common BRICS currency have not gone full-fledged but remain “at a very early stage.” He revealed that the discussions are still in their nascent steps and have a long way to ...

Throughout the first five months of the year, the digital asset sector has become a clear focus of financial revolution. This has been massively important for the United States as its global reserve currency sits at a crossroads. Now, Coinbase CEO Brian Armstrong has suggested that rising US debt will eventually cause Bitcoin to overtake the US dollar. Bitcoin has become a priority for the US, with the country set to establish its very first federal strategic reserve. Yet, it has also become a clear hedge for a struggling greenback. With increased macroeconomic pressures, there is a belief that the leading cryptocurrency could take global reserve share from the dollar sooner rather than later. Source: Horrizon Currency Also Read: Russia’s Largest Bank Sberbank Unveils Bitcoin-Tied Structured Bonds Coinbase CEO Reiterates Fear That Bitcoin Could Begin Replacing the US Dollar on the Global Stage With the rise of BRICS, the push of the Euro, and Bitcoin, it is clear that the US dollar has...

The de-dollarization movement has seen steady growth over the last decade. The BRICS bloc of nations (Brazil, Russia, India, China, and South Africa), along with its newer members, such as Iran and the UAE, have expressed the desire to move away from the US dollar. The USD continues to dominate global trade, but the sentiment of the dollar reigning supreme is fading. Also Read: JP Morgan CEO Warns: 50% Chance of U.S. Recession in 2025 Will Tariffs Further Push The De-Dollarization Agenda? Source: Watcher Guru Tariffs lead to an increase in trade costs. The move could lead to countries looking for an alternative to a US-based system. This aspect of tariffs may lead to more nations moving away from the US dollar. Tariffs could accelerate the de-dollarization movement. Also Read: Top 3 Cryptocurrencies To Watch This Weekend While the threat of countries moving away from the US dollar is growing, President Trump has stated that countries attempting to push the de-dollarization movement wil...

The BRICS alliance is divided on the idea of replacing the US dollar with local currencies for trade and transactions. Countries such as India, Brazil, South Africa, and the UAE are slowly going soft on the idea of de-dollarization. Trump’s recent tariffs are the cause for backtracking as high tariffs eat into the revenue sheets of their imports and exports sector. The stock market crash is also making things worse as trillions worth of funds are being erased from the markets. Also Read: BRICS: China & Brazil Officially Announce to Trade in Local Currencies Not Every Country Wants to End US Dollar Reliance Source: AFP The proposal to end the US dollar dependency now hangs on a thread as one-third of the BRICS alliance is stepping away from the idea. Only countries such as China, Russia, and Iran are aggressively pursuing the de-dollarization agenda globally. Russia and Iran are reeling under sanctions and are desperate to break free to protect their respective economies. Also Read...

BRICS member China is aggressively pushing the Chinese yuan for trade with its partner countries and not the US dollar. The Xi Jinping administration is convincing developing nations to switch to local currency payments for cross-border transactions. The move is helping them level up in the supply and demand mechanism in the global currency markets. Also Read: BRICS: US Could Toughen Sanctions on Russia’s Oil Exports Read here to know how many sectors in the US will be affected if BRICS ditches the dollar and embraces the Chinese yuan for trade. The US dollar is under pressure after pressing sanctions against Russia in 2022 for invading Ukraine. Developing nations fear sanctions could hamper their economy and are indulging in de-dollarization to safeguard their national interests. Also Read: BRICS: India Makes Huge Announcement on New Currency BRICS: Will the Chinese Yuan Beat the US Dollar? Source: kitco.com / Shutterstock The US dollar makes up 58% of all global reserves in 2022 whil...

With the BRICS bloc bringing forth a renewed de-dollarization revolution over the past two years, Morgan Stanley has recently stated its belief that it’s “time to sell” the US dollar. Indeed, the greenback has become a center of geopolitics in recent months. US President-elect Donald Trump has threatened 100% tariffs on nations looking to ditch the world currency. The move is rooted in the commitment to maintaining the status of the dollar. However, increased sanctions from the West drove Russia and its BRICS allies to embrace alternative trade settlements. Now at a crossroads, the investment bank has given its opinion on the currency’s outlook. Source: LA Times Also Read: Expert Says Nations Will Eventually Ditch US Dollar Reserves for Bitcoin Morgan Stanley Says Bullish Investors Mean Its Time to Sell The Dollar With the impending return of Donald Trump to the White House, the US dollar has once again become a focus. During his campaign for reelection, Trump sa...

Donald Trump, the president-elect of the United States, is tightening efforts to curb de-dollarization. The Trump regime is stringent towards protecting the US dollar’s prestige and is now delivering warnings to nations that have been working in tandem to ditch the US dollar. As Trump issues a call to protect the USD, his strict stance has also been comprehended by analysts as a narrative that may backfire, pushing nations further to find an alternative currency instead of embracing the US dollar. Will alliances like ASEAN and BRICS succumb to this pressuring development? Also Read: Shiba Inu: New Forecast Claims SHIB Hitting $0.00007, Here’s When? Trump Warns Nations Ditching The US Dollar Source: Watcher Guru Trump, in his latest tweet, has issued a serious warning against nations that are building dubious narratives against the US dollar. Trump shared how he will be imposing 100% tariffs on BRICS nations that are building a new currency system to challenge the USD, putting a st...

President-elect Donald Trump is advancing to fracture and dismantle the BRICS alliance, said a political analyst from Moscow, Boris Mezhuyev. The analyst explained that the 47th President of the United States is determined to take on countries that threaten to cut ties with the US dollar. BRICS is the first in line to receive the ire of Trump after he takes oath on January 20, 2025. Also Read: 4 New Countries Show Interest To Join BRICS Alliance The BRICS alliance vowed to spread the de-dollarization agenda worldwide and Trump recently responded to the initiative. The President-elect vowed to put a 100% tariff on all goods entering the US from countries that want to end reliance on the US dollar. The move will force the bloc to use the greenback for trade and not local currencies for cross-border transactions. Also Read: Currency: US Dollar Pushes the Indian Rupee Further Down BRICS to Face the Ire of Trump, Says Political Analyst Instagram / Donald Trump Mezhuyev stressed that Trump w...

As the bloc continues to make groundbreaking statements regarding its direction, the BRICS bloc has officially rejected a single currency plan amid its recent backtracking on the US dollar. Indeed, the alliance has announced that it is no longer developing an alternative trade currency that has been discussed by the group for much of the last year. The decision follows its most recent comments regarding the US dollar. Specifically, Russian President Vladimir Putin noted that the group is no longer focused on ditching the greenback within their trade dealings. The stark reversal is most likely attributed to Donald Trump’s 2024 election victory and impending return to the White House. Source: IG Also Read: BRICS: What Donald Trump Election Win Means for De-Dollarization BRICS Currency No Longer ‘Possible’ Alliance Says as it Changes Tune on US Dollar In 2022 Westner sanctison drove Russia away from the US dollar. Indeed, the bloc had leaned into its quest for alternative...

BRICS member India may consider accepting local currencies for trade and sideline the US dollar only if they are ‘non-binding’, according to sources on the condition of anonymity. The decision to accept native currencies could be taken at the upcoming summit in October in the Kazan region of Russia. India is keen on using local currencies only when they are non-binding. Also Read: Former Russian PM Talks About BRICS Currency For the uninitiated, non-binding means the rules of accepting local currencies must not be legally necessary to obey, and must come out of choice whenever required. BRICS country India does not want to end reliance on the US dollar as its economy is booming and needs the currency to survive. Also Read: BRICS: Russia To Officially Use Cryptocurrency For Trade Settlements BRICS: India Would Want the Rupee & Not the Chinese Yuan For Trade Settlements Source: Reuters / ShutterStock BRICS counterpart China has been pushing for trade settlements among member n...

The BRICS alliance invited six new countries to join the bloc in 2024. Out of the 6, only nations entered the alliance while Argentina rejected the membership and Saudi Arabia has kept the decision on hold. The four countries that joined BRICS this year are the UAE, Egypt, Iran, and Ethiopia. China and Russia want BRICS expansion in 2024 to make the group financially stronger and take on the US and other Western allies. Also Read: BRICS : Central Banks Ditching US Dollar, Buying More Gold However, other members seem to be unhappy with the decision as they want to slow down on BRICS expansion in 2024. India, South Africa, and Brazil and mute regarding the expansion in 2024 while China and Russia are vocal. The other countries want new members to stabilize in the bloc before allowing other nations to join. Policies and trade deals could go helter-skelter if too many members join at the same time. Also Read: BRICS : India and Russia Agree to Ditch US Dollar BRICS Expansion 2024 Is Onl...