Brics failed: Dollar dominated, euro crashes by 18%!

Brics failed: Dollar dominated, euro crashes by 18%!

A tough blow for the Brics countries! While you want to wean the world from the US dollar, the numbers laugh in your face: the global trade handling in the US currency has risen by a whopping 9%. The biggest climb in over a decade! While the economic champions like China push with the Yuan, the dollar remains undisputed at the top. The Swift data speak plainly: The dollar content of global payments has reached 49%, incredible maximum values ​​for 12 years!

In the same breath, the euro has to lose a frightening 18%, falls from 39% to 21%. A dramatic descent for the once so strong European currency! While the Yuan makes a small but remarkable jump from 2% to 5%, the US dollar is still the ruler in international payments. The DE dollarization strategy of the BRICS therefore fizzles out like hot air.

The dollar remains king!

Even in turbulent times, the dollar is the last rescue for many developing countries to stabilize their economy. The markets tumble, the domestic currencies weaken, but the dollar remains strong and resistant. The sobering truth is for the Brics countries: without the dollar it doesn't work. Especially for countries with unstable currencies, the green banknote remains the safe harbor.

The pursuit of de-dollarization currently only seems to be a dream from Russia, without tangible success. While China is trying to make his Yuan strong, the rest of the world seems to put on the US dollar. A sobering setback for everyone who believed in the end of the dollar dominance!