Category: US Dollar

The United States dollar, no longer backed by gold, derives its value from the trust in the US government, the strength of the American economy, and its status as the world’s primary reserve currency. This transition to a fiat currency has allowed for more flexible monetary policy, underpinning the dollar’s stability and global acceptance.

The BRICS Summit has become a critical forum for the world’s emerging economies to challenge the dominance of the US dollar in global finance. As Brazil, Russia, India, China, and South Africa converge, they discuss strategies to reduce their reliance on the dollar, aiming to shift economic power and create a more multipolar financial system.…