90% of transactions in local currencies
The post 90% of transactions in local currencies appeared on BitcoinEthereumNews.com. BRICS 2025 marks a turning point in the global economy: during the summit held in Rio de Janeiro, President Vladimir Putin announced that 90% of the transactions between the member countries of the alliance are settled in local currencies. A result that reflects a radical change in trade flows and international financial paradigms. Local currencies increasingly central in trade among BRICS countries Putin has declared that the growth of transactions in local currencies represents a solid and unstoppable trend within the alliance. In particular, the proof of this statement is found in the data related to 2024: the ruble and the currencies of the so-called “friendly countries” accounted for 90% of the settlements between Russia and the other BRICS states. This revolution in payment systems drastically reduces the centrality of the US dollar in the bloc’s international operations, laying the foundations for greater economic and financial independence from the West. The role of Russia and China in promoting national currencies In recent years, Russia has taken the lead in the collective effort to promote the use of national currencies within the BRICS space. This process has been accompanied by active involvement from China, engaged in the “de-dollarization” strategy on a global level. Not only has China found support in Asia, but it has also expanded its influence in Africa and Latin America, encouraging many countries to choose local currencies for settling trade payments. As a result, the dollar is progressively marginalized in economic relations among the BRICS nations. Strategic objectives of the transition to local currencies The choice to promote the use of valute locali in payments between member countries aligns with specific geopolitical and financial strategies. Putin highlighted that the alliance aims to build an sistema autonomo e competitivo compared to the circuits dominated by the United States. Competition…
The post 90% of transactions in local currencies appeared on BitcoinEthereumNews.com.
BRICS 2025 marks a turning point in the global economy: during the summit held in Rio de Janeiro, President Vladimir Putin announced that 90% of the transactions between the member countries of the alliance are settled in local currencies. A result that reflects a radical change in trade flows and international financial paradigms. Local currencies increasingly central in trade among BRICS countries Putin has declared that the growth of transactions in local currencies represents a solid and unstoppable trend within the alliance. In particular, the proof of this statement is found in the data related to 2024: the ruble and the currencies of the so-called “friendly countries” accounted for 90% of the settlements between Russia and the other BRICS states. This revolution in payment systems drastically reduces the centrality of the US dollar in the bloc’s international operations, laying the foundations for greater economic and financial independence from the West. The role of Russia and China in promoting national currencies In recent years, Russia has taken the lead in the collective effort to promote the use of national currencies within the BRICS space. This process has been accompanied by active involvement from China, engaged in the “de-dollarization” strategy on a global level. Not only has China found support in Asia, but it has also expanded its influence in Africa and Latin America, encouraging many countries to choose local currencies for settling trade payments. As a result, the dollar is progressively marginalized in economic relations among the BRICS nations. Strategic objectives of the transition to local currencies The choice to promote the use of valute locali in payments between member countries aligns with specific geopolitical and financial strategies. Putin highlighted that the alliance aims to build an sistema autonomo e competitivo compared to the circuits dominated by the United States. Competition…
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