2 Countries Pay $50 Billion in Local Currency, Ditch US Dollar
Two countries in the Commonwealth of Independent States (CIS) have settled over $50 billion worth of trade in 2025 in local currency, ditching the US dollar for cross-border transactions. The move signifies a shift in trends where emerging economies are staying away from Western-led currencies. A new norm is being created where local currencies are being used for trade settlements. The downturn is being reflected in the DXY index where the greenback is struggling to climb above the 98 level. Also Read: Gold, Yuan, Euro Rise as De-Dollarization Redraws the Map Russia & Belarus Settle $50 Billion Worth of Trade in Local Currency, Sideline US Dollar Source: jamestown.org Russia and Belarus have fully switched to settling payments in local currency keeping the US dollar at bay. Deputy Prime Minister of Russia Alexei Overchuk, confirmed that the two countries settled $50 billion worth of payments in local currency and not the US dollar. The numbers could increase over the years, as in 2...