BRICS Nations Shift to Local Currencies for Cross-Border Trade

BRICS countries are increasingly using local currencies for cross-border trade settlements, with 60% of such transactions now conducted without the US dollar. According to NS3.AI, Russia, China, and India are at the forefront of this trend, actively promoting their national currencies in international trade to bolster their economies. This movement is part of a larger strategy to reduce dependency on the US dollar and transform the global monetary system over the coming decade.