BRICS: 10 Asian Countries Agree to Ditch The U.S. Dollar
BRICS countries are looking to sideline the U.S. dollar by launching a new currency to settle international trade. The development challenges the dollar ’s supremacy and could dethrone it from the global reserve status. The move is inspiring other developing Eastern countries to ditch the dollar and promote their native currencies for global trade. If the momentum continues, many more Eastern nations could join hands and end reliance on the U.S. dollar completely. Also Read: 30 Countries Now Ready To Accept BRICS Currency BRICS: 10 Developing Eastern Countries Ready to Ditch U.S. Dollar Source: eastasiaforum.com The leaders of 10 Southeast nations and the members of the Association of Southeast Asian Nations (ASEAN) have agreed to promote their native currencies for cross-border transactions. The 10 countries will reduce settling payments with the U.S. dollar and use their local currencies for transactions. The group of nations wants to “encourage the use of local