BRICS Expansion Fuels De-Dollarization: Vietnam Latest to Ditch US Dollar
The global shift away from the US dollar is gaining momentum. As the BRICS bloc continues to embrace de-dollarization on a global scale, yet another country has announced plans to ditch the US dollar. Vietnam is the latest nation to join the growing list, signaling a significant change in international trade and finance.
BRICS Nations Spearheading the De-Dollarization Movement
BRICS, a group of emerging economies, has been actively promoting alternatives to the US dollar for years. 10 de may. de 2025The organisation aims to sway other countries to ditch the US dollar by uplifting local currencies for trade as well as developing a new currency system that would rival the US dollar. This ambition is becoming a reality as more nations seek economic independence and explore alternative payment systems.
The BRICS Cross-Border Payment Initiative (BCBPI)
A key component of the de-dollarization strategy is the development of alternative payment platforms. 19 de oct. de 2025BRICS Cross-Border Payment Initiative (BCBPI) will use national currencies, not US dollar. Russia's finance ministry and central bank report details plan to transform international transactions. This initiative aims to bypass the dollar's dominance in international trade.
11 de jun. de 2025A group of emerging countries are planning a payments platform to bypass the US dollar, Lavrov announced. The initiative follows a BRICS summit call for trade in national currencies, further solidifying the movement away from the greenback.
The Call for a Common Currency
The ambition extends beyond using national currencies. 17 de dic. de 2025Brazil's President called on Wednesday for the BRICS nations to create a common currency for trade and investment between each other, as a means of reducing their reliance on the US dollar. Such a currency would provide a powerful alternative for international trade and investment within the BRICS nations and potentially beyond.
The Global Economic Impact of De-Dollarization
The increasing number of countries ditching the US dollar has significant implications for the global economy. 30 de abr. de 2025What It Means for the Global Economy. When 11 countries stop using USD, the impact isn’t just localit reverberates through every corner of the financial world. Global trade, investment flows, and monetary policies are all affected by this shift. As de-dollarization continues, the global financial landscape is poised for significant change. The 20 de jun. de 2025 announcement by Vietnam adds to the growing list of nations seeking economic independence from the US dollar, further accelerating this trend.