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According to data from September 2025, Russia and its BRICS counterparts now use their own national currencies for 65% of mutual trade settlements. At the BRICS Today, a new milestone has been reached: for the first time in decades, the dollar’s share of global reserves has fallen below 60%. This decline, far from insignificant U.S. President-elect Donald Trump has warned the BRICS countries that if they attempt to replace the “mighty U.S. dollar” they would face “100 percent tariffs and should The BRICS countries have been seeking to diversify their foreign currency reserves away from the US dollar, which is the dominant international reserve currency, due to various reasons Independent payment and financial messaging systems are getting interconnected, taking steps towards a more de-dollarized world. Bilateral currency swaps are In a bid to protect their local currencies, Central Banks of BRICS nations, namely China, India, and Russia, have been significantly reducing their US dollar reserves

BRICS US Dollar Reserves Plunge 6.5% as Local Currencies Rise 3.65%

A significant shift in global economics is underway as BRICS nations (Brazil, Russia, India, China, and South Africa) actively decrease their reliance on the US dollar. Recent data shows a concerning trend for the USD: BRICS US dollar reserves have fallen by 6.5%, while the usage of local currencies has seen a rise of 3.65%.

De-Dollarization Gains Momentum: BRICS Moving Away From USD

The BRICS countries have been seeking to diversify their foreign currency reserves away from the US dollar, which is the dominant international reserve currency, due to various reasons. This move is not just a symbolic gesture; it represents a tangible effort to reshape the global financial landscape. According to data from September 2025, Russia and its BRICS counterparts now use their own national currencies for 65% of mutual trade settlements.

Dollar's Global Reserve Share Dips Below 60%

At the BRICS Today, a new milestone has been reached: for the first time in decades, the dollar’s share of global reserves has fallen below 60%. This decline is a key indicator of the growing influence of alternative currencies and financial systems.

Protecting Local Currencies: BRICS Central Banks Take Action

In a bid to protect their local currencies, Central Banks of BRICS nations, namely China, India, and Russia, have been significantly reducing their US dollar reserves. This strategic decision reflects a desire for greater economic independence and resilience against external financial pressures.

Building a De-Dollarized World: Independent Systems Emerge

Independent payment and financial messaging systems are getting interconnected, taking steps towards a more de-dollarized world. Bilateral currency swaps are becoming increasingly common, further reducing the need for US dollar transactions within the BRICS bloc.

Political Reactions: Tariffs and the Future of the USD

This decline, far from insignificant U.S. President-elect Donald Trump has warned the BRICS countries that if they attempt to replace the “mighty U.S. dollar” they would face “100 percent tariffs and should. The international community is closely watching how this situation will evolve, with potential implications for global trade and investment.

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