De-Dollarization: New Bloc Ditches US Dollar for $100 Billion Trade
De-dollarization is at its peak in 2025 as a handful of alliances are ditching the US dollar and replacing it with local currencies for trade. In a first, The Eurasian Economic Union (EAEU), confirmed that they settled 93% of trade in national currencies sidelining the US dollar. Only 7% of the cross-border transactions among themselves included payments in the US dollar. Also Read: US Power And Dollar Dominance: Cause & Consequence Intertwined The latest data shows that the EAEU alliance settled close to $100 billion worth of trade in 2024. Therefore, $93 billion worth of trade within the EAEU was settled in local currencies last year. Only $7 billion worth of cross-border transactions was paid using the US dollar among the member nations. The development shows that de-dollarization is accelerating at a rapid speed to leave the US dollar behind. Also Read: De-Dollarization: Full List of Countries Dropping the US Dollar & Key Reasons De-Dollarization Growing Rapidly Within Memb...