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In most international transactions, the currency used is the U.S. dollar (and the euro), and the transaction is completed through a payment system. Currently, SWIFT is the primary payment Transactions in national currencies and new payment platforms are undoubtedly welcome steps in the process of ensuring independence from the US dollar and Despite attempts to eradicate the US dollar's predominance in global economics by the BRICS economic alliance, newly shared data indicates that the US dollar Most companies use the USD as an intermediate currency for transactions with counterparties from foreign countries. According to SWIFT, 40.7% of international settlements are made in For decades, the United States dollar has reigned supreme as the global reserve currency, facilitating international trade and finance. However, the recent proposal by According to data released by SWIFT, the Chinese renminbi (RMB) became the fourth most active currency for global payments in November 2025. It accounted for 3.89 percent of the

BRICS & the US Dollar: Is Its Reign Ending? The Reality Behind International Transactions

For decades, the United States dollar has reigned supreme as the global reserve currency, facilitating international trade and finance. But is this dominance being challenged, especially by the BRICS economic alliance? Despite attempts to eradicate the US dollar's predominance in global economics, the picture is complex. While the BRICS nations are actively pursuing alternatives, the reality is that the US dollar remains a major player in international transactions.

The USD's Continued Dominance: Numbers Don't Lie

New data paints a clear picture. In most international transactions, the currency used is the U.S. dollar (and the euro), and the transaction is completed through a payment system. According to SWIFT, 40.7% of international settlements are made in US dollars. This figure highlights the continued reliance on the USD for global trade. Most companies use the USD as an intermediate currency for transactions with counterparties from foreign countries.

BRICS and the Push for Alternatives

The recent proposal by BRICS nations to explore alternative currencies and payment systems is gaining traction. Transactions in national currencies and new payment platforms are undoubtedly welcome steps in the process of ensuring independence from the US dollar. This push stems from a desire for greater financial sovereignty and reduced reliance on a single currency.

The Rise of the Renminbi (RMB)

While the US dollar remains dominant, other currencies are gaining ground. According to data released by SWIFT, the Chinese renminbi (RMB) became the fourth most active currency for global payments in November 2025. It accounted for 3.89 percent of the global share, demonstrating its growing influence in international finance.

SWIFT: The Current Standard

Currently, SWIFT is the primary payment system facilitating the majority of international transactions. While alternatives are being explored, SWIFT's established infrastructure and widespread adoption continue to make it a key component of global financial transactions.

The Future of International Currency: A Shifting Landscape

The global currency landscape is evolving. While the US dollar remains a dominant force, the BRICS nations and the rising prominence of currencies like the RMB are signaling a potential shift towards a more multi-polar system. The future likely holds a combination of currencies used in international transactions, with the balance of power gradually shifting as new payment platforms and economic alliances continue to develop.

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