BRICS attacks: US dollar loses ground-what does that mean for the USA?

BRICS attacks: US dollar loses ground-what does that mean for the USA?

banks tremble, the message hits like a bomb: the US dollar, once undisputed tip in the global Payment world, has born vigorously! In October 2024, the proportion of global US dollar transactions fell dramatically below 50%. The reasons? Brics, this group of emerging power states, consisting of Brazil, Russia, India, China, and South Africa, launched a real campaign against dollar dominance. They accuse Washington of using the American currency as a political means of pressure and are now determined against it!

The data from Swift, the mighty payment network, draw a clear picture: only 47% of the global payments run over the dollar. For comparison: the euro climbs to 23% of the transactions, the sterling and the yen bubble at 7% or 4%. Particularly noteworthy: China, as an influential BRICS member, is already in 3% with the Yuan-a clear indication that the departure from the dollar must be taken seriously.

new financial scenario - Brics in advance

Despite this shocking decline, the dollar still holds the top position-but the advance of the Brics Alliance leaves no doubt that the challengers are full of zest for action! While these countries gradually begin to handle their trade agreements without the green banknote, the status of the dollar shakes as a world reserve. Russia and Iran Presschen and have deleted the dollar from their trading bills. A break with a taboo with a signal effect!

In the fight against the dollar hegemony, the Brics countries have a stony path in front of them, but the latest slide shows that the dollar is not inviolable. The more countries switch to local money, the more difficult it becomes the United States to keep the top position. However, whether this campaign brings the desired success remains exciting and explosive - the answer is in the stars!