BRICS: Morgan Stanley Predicts the Future of the US Dollar
BRICS is challenging the dominance of the US dollar by spreading the de-dollarization agenda across the globe. The bloc is pushing local currencies for trade and convincing other developing countries to sideline the US dollar. Using local currencies will strengthen their native economies and give them a boost in the forex markets. Amid the BRICS de-dollarization initiative, leading investment bank Morgan Stanley has predicted the future of the US dollar. Also Read: BRICS: Demand For the US Dollar Rises in Foreign Banks Read here to know the sectors in the US that will be affected if BRICS ditches the dollar for trade. The move will make the US dollar lose out on the global supply and demand dynamics and push it into the path of decline. If the US fails to import the dollar, inflation could hit the homeland leading to higher prices for basic necessities. Also Read: BRICS Countries Gain Influence Over G20 BRICS: Morgan Stanley Reveals How the US Dollar Will Survive the Challenges Source:...