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The financial world dynamics are up for a massive haul, with the local currency narrative winning as the dollar takes a backseat in recent times. The rise of the multipolar currency concept is now the recent hot topic for the world to discuss, which has now adopted an evolving stance. This development is not a mere idea anymore; it has now become a war against US dollar supremacy for many nations, who believe that the US dollar should now take the bench at the back. With the constant USD weaponization and sanctioning, and Trump’s aggressive tariff ordeal, the world is now shifting to local currencies, ditching the US dollar usage in every possible way. Here’s how. Also Read: 2 Ways Countries Are Quietly Breaking Up With the US Dollar Local Currencies Are Winning Source: Watcher.Guru Per a recent article by The Guardian, the world is now increasingly shifting towards local currency usage. This shift has now become vital for the economies to survive as they rummage through ide...

Russia has signed trade deals worth 1 trillion rubles (equivalent to $13.1 billion) in local currencies. This is the second time in a row that Russia signed trade agreements worth $13.1 billion. The deals were inked at the St. Petersburg International Economic Forum (SPIEF), announced Governor Alexander Beglov. The national brand space ‘Buy Russian!’ was the centerpiece at the SPIEF forum in St. Petersburg. Also Read: CIS Settles 99% of Payments in Local Currencies, Ignore USD The deals extended to over 40 investment agreements with over 67 trade policies touching exactly 1.0288 trillion rubles. The agreements are mostly focused on science and technology projects and the funds will be deployed through 2030. The SPIEF event was held this week under the theme “Shared Values: The Foundation of Growth in a Multipolar World.” Russia aims to achieve a multipolar financial world where local currencies will be used for all transactions. A deal was also inked with China at the SPIEF...

The BRICS alliance is no longer attaching importance to the US dollar and is giving strong prominence to local currencies. The Chinese yuan, Indian rupee, and the Russian ruble have been used to settle cross-border transactions since 2022. The de-dollarization agenda is advancing rapidly and many other developing countries are now looking to use local currencies for trade. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Local currencies are looking to dethrone the US dollar from the world’s reserve and usher global finances into a new era. Also Read: 2 New Countries Get Invited To Attend BRICS 2024 Summit BRICS: We Are No Longer Attaching Importance to the US Dollar, Says Indian Diplomat Source: iStock The Vice Chairman of BRICS Chamber of Commerce and Industry, Sameep Shastri confirmed that developing countries are no longer giving importance to the US dollar. Shastri revealed that the world will soon realize the power of de-do...