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Donald Trump has assumed the White House duties as the 47th US president, ushering in an era of complete policy changes. Trump is adamant about imposing tariffs on nations to strengthen the US economy. While his intent is solely focused on bolstering the US economic infrastructure, his idea of imposing tariffs on nations is gaining widespread notoriety, with the de-dollarization hype gaining traction in the midst of it all. While the US dollar still stands as a primary transacting currency, can the dollar ever be replaced? If yes, then which currencies have the power to be the global superpower? Let’s find out. Also Read: Nvidia Stock: ‘Golden Opportunity’ for Top Investors Ahead of NVDA Earnings Report The Concept of De-Dollarization to Gain Momentum Again? Image Source: Watcher Guru Donald Trump is once again grabbing the central spotlight due to the spree of tariffs that he wishes to levy on certain nations. As per Reuters, Trump is planning to impose a 10% levy on Canadian cru...

The US dollar is on a slippery slope as BRICS is looking to topple it from the world’s reserve currency status. The de-dollarization agenda is gaining steam as the alliance is convincing developing countries to cut ties with the US dollar. On the heels of the BRICS de-dollarization efforts, Citi Bank has predicted the future of the US dollar. Citi gave insights on how the leading currency could perform in the coming months. Also Read: BRICS: US & Europe Headed For a Recession, Warns BCA Strategist BRICS: The US Dollar Could Dip, Predicts Citi Bank Source: TheStreet Citi Bank has forecasted that the US dollar could decline amid the global slowdown and remain bearish for the next two months. The DXY index, which tracks the performance of the USD shows that currency at 101.40. That’s a sharp decline as the currency was at 106.20 in June this year. The decline comes when BRICS is advancing to push the US dollar to the bottom of the charts. Citi Bank forecasts that BRICS currenci...

Russia has imported more than $29 million in the US dollar and Euro currency from Rwanda this year. The confidential customs data reported by Vyorstka shows that the currency notes entered the country despite the US pressing sanctions. The White House sanctioned Russia in February 2022 for invading and waging war against its neighboring country Ukraine. Also Read: NATO Member Officially Applies to Join BRICS According to recent data, around $2.27 billion has entered Russia in the US dollar and Euro currency notes since February 2022. The currency notes entered Russia from countries such as Turkey and the United Arab Emirates (UAE), among others. These countries have not imposed any restrictions on Russia and continue to initiate business deals as usual. US Dollar and Euro Currency Enters Russia Worth $30 Million Source: Reuters / Jason Lee Vyorstka reported that Russia’s state-run arms exporter Rosoboronexport imported $29.21 million worth of $100 US dollar currency from Rwanda’s Defen...