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3 Economics To Lead De-Dollarization: What's Going On?
The current de-dollarization wave is now gaining rapid momentum with more and more nations joining the surging drive. Several nations have now started to float plans that aim to introduce local currency narratives in global trade, pushing the dollar aside for serious business. Who are these three nations, and what are their new plans to put the de-dollarization wave in motion? Let’s find out.
Also Read: India To Boost De-Dollarization: Buy Nigerian Oil Paying in Naira
Also Read: India To Boost De-Dollarization: Buy Nigerian Oil Paying in Naira## 3 Economies Leading De-Dollarization
“Based on a review of the procedure involved in opening of the SRVA, it has been decided to do away with the need for seeking RBI approval for opening of SRVA. AD banks can now open SRVAs of correspondent banks without referring to the Reserve Bank of India,” the RBI said in an official release (Financial Times).
BREAKING NEWS
India strengthens its push against Dollar dominance
RBI now allows faster, simpler Rupee-based trade settlements with global partners, a move to make INR a serious player in world trade
The #Rupee is knocking on the global stage.#DeDollarization pic.twitter.com/c1iAboJfEf
Brazil is another leading player pushing for an agenda stating how nations should lower their dependency on the US dollar. Brazil’s PM Lula, in his recent interview, shared how the BRICS bloc should explore launching a BRICS currency.
“We can discuss within BRICS the need for a trade currency among us BRICS.” Lula was documented sharing an opinion.
“We can discuss within BRICS the need for a trade currency among us BRICS.”
Lula says BRICS should discuss creating a shared trade currency: ‘We need to test it’
Is de-dollarization looming? pic.twitter.com/PrP48dYtCu
The BRICS currency has always been a controversial line of topic, inviting the wrath of Donald Trump himself. Trump has vowed to impose tariffs on BRICS if they attempt to implement active ideas of de-dollarization in the near future.
Trump unleashes a Whopper and targets BRICS Nations trying to move away from the US dollar.
If they don’t support the US Dollar, they will face 100% tariffs and expect to say goodbye to selling anything into the US.
They will say hello to tariffs and goodbye to America. pic.twitter.com/kp0QVz8IpF
A New Country Wants To Drop USD By 2030
Zimbabwe is the latest contender to join the growing de-dollarization debate. The country’s Central Bank has announced plans to launch a de-dollarization roadmap by November, as per the Xinhua news portal.
The bank’s governor, John Mushayavanhu, stated that this move attempts to prioritize Zimbabwe’s need to maintain currency stability. The roadmap will also emphasize capping USD usage by 2030, sending a bold message across the domain. The nation is keen to promote its new currency, ZiG, in efforts to bolster its economic infrastructure.
Also Read: BRICS Expansion in 2026: ‘We Want More African Nations in BRICS!’
Also Read: BRICS Expansion in 2026: ‘We Want More African Nations in BRICS!’