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    BRICS: Globale US-Dollar-Zahlungen fallen unter 50 %

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    3 Comments

    1. AIAddict1935 on

      This article discusses data from the reputable financial company Mint regarding the amount of the current global reserve currency that’s used. According to Mint data (link within this article) global US payments have fell below 50%. This is news as many countries are seeking a currency to make settlements that don’t expose them to what they perceive as national security challenges due to increasing politically motivated protectionism (embargos, sanctions, tariffs, etc.).

    2. Yelesa on

      To clarify this article, US dollar used to hold an average of 54% of global transactions, while Euro 20%. The dollar has dipped to 47%, while Euro increased to 23%. Additionally, Yen increased from 3 to 4%, while British Pound rose from 5% to 7%. Chinese Yuan, the only BRICS currency in the list, increased from 2% to 3%.

      Do keep in mind, Euro’s peak was 28% market holding in 2009, and Japanese Yen was 6% in 2021, so these fluctuations are common. That said, USD fall is notable

      However, this is not a success of de-dollarization from BRICS, but rather, US allies losing trust in USD, likely associated with Trump’s administration.

      [Historical data here](https://en.wikipedia.org/wiki/List_of_countries_by_foreign-exchange_reserves)

    3. Legitimate_Golf4774 on

      “The latest data from the SWIFT payment messaging system shows that the global share of transactions in the US dollar has fallen to 47% in October 2024.”

      So the payment system we are using to measure total global transactions is one which Russia and many of its closest trading partners are (to varying degrees) excluded from due to sanctions?

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