Post
Topic
Board Economics
Re: Dedollarisation fails before starting, Russia and India halt rupee trade
by
Faisal2202
on 08/05/2023, 17:43:38 UTC
Over the past months, we have been bombarded with articles about the global de-dollarisation, how countries will quit using the USD, how the petrodollar is doomed, how the entire US economy is doomed once the usd is dropped, how the Zimbabwean dollar, the Argentian peso, the bolivar, the Iranian rial and other, can we even all them currencies?
So you are talking about "BRICS" and yeah we have seen so many articles and videos on BRICS and how many other countries are willing to join these 5 countries (BRICS) single trade currency, i don't think the dollar can lose its value due to BRICS because it has set the great base from its origin and USA has made many bold moves to keep their dollar save (i don't want to talk about of bold moves) so what i think they will resist BRICS in some way. For more details you can read this article

Plus, i don't think solely Russia could devalue the Dollar by taking trade money in INR (Indian currency), that's why they are organizing big countries to come together so that an impact could be made on the dollar.

I am wondering, why Russia can't trade INR to use them, as there are financial restrictions from many firms on Russia due to war as stated above but why can't they just convert them, it indicated that in BRICS Russia is a weak point and i think until Russia don't settle the war, there will be no implementation of BRICS currency. And the USA does realize that.