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08-04-2025, 02:49 PM
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BRICS+ nations have, at the time of writing, increased their local currency settlements from around 18% in 2020 to approximately 45% in 2024. Their USD reserves have actually fallen below 50% for the first time, with central banks increasing gold reserves by a substantial 340% between 2020-2023. China’s CIPS and Russia’s SPFS are, as of now, emerging as alternatives to SWIFT, facilitating further de-dollarization through local currency transactions.
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ASEAN has, in recent years, raised local currency trade from about 13% in 2020 to nearly 28% by 2024, with yuan reserves jumping from just 2% to around 12%. The bloc is currently integrating payment systems to reduce reliance on SWIFT, which is advancing their regional de-dollarization efforts even further.
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The Shanghai Cooperation Organization is presently enhancing its financial integration by adopting local currencies and also increasing gold reserves to reduce USD exposure.
Meanwhile, the Gulf Cooperation Council’s de-dollarization strategy includes, among other approaches, settling oil contracts in yuan, with non-USD trade rising from a mere 2% in 2020 to about 19% in 2024.
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The African Union currently promotes local currency trade through various AfCFTA agreements
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the Eurasian Economic Union continues to pursue aggressive de-dollarization with local currency settlements growing from approximately 29% in 2020 to around 68% in 2024. Both of these alliances are, at present, developing alternatives to SWIFT as part of their ongoing de-dollarization strategies.
https://watcher.guru/news/de-dollarizati...-us-dollar
BRICS+ nations have, at the time of writing, increased their local currency settlements from around 18% in 2020 to approximately 45% in 2024. Their USD reserves have actually fallen below 50% for the first time, with central banks increasing gold reserves by a substantial 340% between 2020-2023. China’s CIPS and Russia’s SPFS are, as of now, emerging as alternatives to SWIFT, facilitating further de-dollarization through local currency transactions.
......
ASEAN has, in recent years, raised local currency trade from about 13% in 2020 to nearly 28% by 2024, with yuan reserves jumping from just 2% to around 12%. The bloc is currently integrating payment systems to reduce reliance on SWIFT, which is advancing their regional de-dollarization efforts even further.
......
The Shanghai Cooperation Organization is presently enhancing its financial integration by adopting local currencies and also increasing gold reserves to reduce USD exposure.
Meanwhile, the Gulf Cooperation Council’s de-dollarization strategy includes, among other approaches, settling oil contracts in yuan, with non-USD trade rising from a mere 2% in 2020 to about 19% in 2024.
......
The African Union currently promotes local currency trade through various AfCFTA agreements
......
the Eurasian Economic Union continues to pursue aggressive de-dollarization with local currency settlements growing from approximately 29% in 2020 to around 68% in 2024. Both of these alliances are, at present, developing alternatives to SWIFT as part of their ongoing de-dollarization strategies.
https://watcher.guru/news/de-dollarizati...-us-dollar
