Page 6 - De Dollarisation News Today : Breaking News, Live Updates & Top Stories | Vimarsana

There is an accelerating trend towards global de-dollarization. What's behind the phenomenon and when did it start?

Amid growing concern about dollar risks, a stable, reliable non-Western alternative currency system would benefit a multipolar world and be a major milestone towards an Asian century

In a significant development, RBI Governor Shaktikanta Das and Governor of the Central Bank of UAE H.E. Khaled Mohamed Balama have come to an agreement to establish a comprehensive framework for utilizing local currencies in bilateral transactions between India and the UAE. The Memorandum of Understanding (MoU) encompasses all current account transactions as well as permitted capital account transactions, paving the way for smoother financial exchanges between the two Asian nations., Economy News, Times Now

The de-dollarisation, the movement to reduce other countries' reliance on the greenback, among the emerging economies of the BRICS economic group is yet to reach a 'common currency' breakthrough. The de-dollarisation movement, however, is currently morphing into a growing number of countries ditching the dollar and choosing to trade in their own currencies instead. But despite an official clarification, the Russian embassy in Kenya said in a tweet, "The BRICS countries are planning to introduce a new trading currency, which will be backed by gold." 

Having already faulted development financiers of bias, he has added two big suggestions on the World Bank and IMF.