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The BRICS alliance kick-started the de-dollarization agenda to pull the US dollar down from the global reserve status and replace it with local currencies. China and Russia were on a world tour convincing developing countries to use local currencies for trade and not the US dollar. They found success in it as several developing countries are considering the de-dollarization initiative to strengthen their local currencies. Also Read: Wages in the US Rise 7%, Home Prices Skyrocket 45% The US pressing sanctions on developing nations is another reason why they find the de-dollarization agenda lucrative. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: BRICS To Announce Membership of New Countries in 2024 De-Dollarization Faces Challenges: US Dollar Outshines All BRICS Currencies Source: Cryptopolitian.com The de-dollarization initiative has fallen flat as the...

The weakening of the US dollar has been a noteworthy development as of late. The currency is now standing at a precarious threshold, with strong contenders like the Kenyan shilling challenging its authority.  With the US debt crossing $30 trillion, it seems that the US dollar is gradually heading towards a downward spiral. Amid all this, the Indian economy may further the USD ’s demise if it adopts one simple elemental change in its economic strategy, which is bolstering its foreign connections.  Also Read: Currency: US $1 Trillion Debt Shows No Signs of Stopping Can INR Beat the USD? Source: Watcher Guru The Indian rupee is far below in terms of valuation when compared to the USD. The INR fell to an all-time low against the USD, down by 83.28, spurred by rising geopolitical tensions.  However, one analyst seems to have a different view of this critical situation. Macroeconomics expert Jesse took to X to outline his views on how the INR can truly out...

The US dollar is depreciating against the Indian local currency, the Rupee this month in February 2024. The Rupee is gaining strength due to a robust economy that’s inching towards the $4 trillion mark. India’s GDP currently stands at $3.732 trillion and its economy is growing by leaps and bounds. The country also beat the UK’s GDP of $3.5 trillion and now aims to topple Japan’s GDP of $4.2 trillion. Also Read: Cryptocurrency: 3 Coins To Watch Under $1 as Bitcoin Hits $56,000 The Indian rupee is up 0.4% vs the US Dollar year-to-date indicating that the local currency is strengthening. The US dollar remains on the back foot since the last two weeks making way for the rupee to shine. The rupee appreciated to 82.92 on Wednesday after reaching a downturn of 83.19 last month. Leading German Bank Commerzbank Predicts US Dollar vs Rupee Performance For 2024 Source: Bloomberg Germany’s leading bank Commerzbank predicts that the Rupee will hold on str...