BRICS: U.S. Dollar Sliding 10 Times Faster Than Last 2 Decades
According to the latest report by Bloomberg, the U.S. dollar is sliding 10 times faster than the last two decades. The U.S. dollar now represents about 58% of the global reserves, down from 73% in 2001. Developing nations’ experimenting with the de- dollar ization initiative is speculated to currently lead dollar ’s decline. The dollar has dropped nearly 15% in the last two decades and continued to slide with fears of an upcoming BRICS currency. Also Read: Will Canada & Mexico Join BRICS To Eliminate U.S. Dollar’s Dominance? Source: Bloomberg / Eurizon SLJ Capital Since 2016, the dollar lost nearly 11% of its market share. Developing nations’ replacing the USD for international trade picked up steam making the dollar face threats of a global collapse. BRICS: Why Is the U.S. Dollar Falling? Source: presstv.ir Exceptional actions by China and Russia challenged the dollar ’s hegemony and are pulling other nations towards their side. The development has star...