BRICS Alliance Seeks to Reduce US Dollar Dependency in Trade

The BRICS alliance is working towards eliminating the US dollar from their trade transactions to avoid hidden costs and revenue loss associated with currency conversions. According to NS3.AI, experts emphasize that using direct local currency exchanges would decrease reliance on the US dollar and lessen vulnerabilities tied to US economic policies. The long-term goal is to establish a more diversified international monetary system that is less dominated by the US dollar.