BRICS: US Dollar Remains in High Demand, De-Dollarization Failing
The BRICS alliance which kick-started the de-dollarization agenda is now under the mercy of the US dollar in 2025. The US dollar remained in the green for nine consecutive days in the DXY index and tramping other local currencies. The Indian rupee has fallen to a lifetime low of 85.93 and is on the brink of dipping to the 86 level. The Chinese yuan and the Japanese yen are facing similar lows and are unable to take on the rising US dollar. Also Read: BRICS Makes Huge Announcement on Common Currency Source: Google The US dollar singlehandedly outperformed all local currencies in 2025 taking the top spot in the currency markets. The USD has now reached a high of 109.30 in the DXY index and could breach its all-time high of 109.53. The currencies of BRICS members are the hardest hit despite the alliance pushing the de-dollarization agenda to bring the US dollar down. Also Read: BRICS: India Likely Dumping the U.S. Dollar Source: MarketWatch BRICS: Here’s Why the US Dollar is Rising a...