HSBC Predicts the Future of the US Dollar: Will BRICS De-Dollarization Efforts Succeed?

Leading global bank HSBC has predicted the future of the US dollar, forecasting how long the currency can stay as the world’s reserve. The prediction comes at a pivotal time, as BRICS kickstarted the de-dollarization initiative, convincing developing countries to use local currencies for global trade and not the U.S. dollar. The development is sparking intense debate about the long-term stability of the USD.

Despite the efforts of BRICS countries to diversify and reduce dependency on the USD, HSBC predicts that the US dollar will retain its global dominance well into the future. The prediction comes at a time when many are questioning the dollar's seemingly unassailable position.

Will BRICS' Gold Accumulation Impact the Dollar?

The HSBC analyst explained that BRICS accumulating gold will have no impact on the prospects of the US dollar. He stressed that the US dollar will remain a dominant currency even after 20 years, highlighting its continued strength and influence in global markets.

Leading global bank HSBC has predicted the future of the US dollar forecasting how long the currency can stay as the world’s reserve. The prediction comes at a crucial juncture, with the de-dollarization narrative gaining momentum and BRICS actively promoting alternative financial systems.