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The effort to stop de-dollarization faces mounting challenges right now as Trump threatens increasing tariffs on nations abandoning the greenback. Yet experts argue that US dollar dominance confronts forces beyond political control, with Russia and China de-dollarization accelerating and the yuan replacing dollar gaining traction globally. Trump’s proposed capital tax represents another attempt to halt this shift, but analysts warn such measures may also backfire against the very goal to stop de-dollarization. Also Read: Bank of America Warns: US Dollar Will Decline This Summer Can Trump’s Capital Tax Slow Russia-China Dedollarization Shift?# Source: Watcher Guru Dollar Reserve Status Weakens Despite Threats The dollar lost its dominant position in forex reserves, going from 72% in 2002 to 59% in 2023, and then ticked up slightly to 57.8% by the fourth quarter of 2024, because more people are now using alternatives like the yuan instead of the dollar in global trade. Total g...

BRICS member Russia recently dumped local currencies the Ruble and Chinese Yuan to take on the US dollar. Surprisingly, the gamble paid off as the Ruble outperformed the US dollar this week in the forex markets. Despite the White House pressing sanctions on Russia, the BRICS member is bypassing the US punitive actions and coming out on top. Also Read: BRICS: GDP in Purchasing Power Parity To Reach 45% Of World’s Economy The US dollar rate fell to a low of 91.96 Rubles on Thursday but opened slightly positive on Friday at 92.09 Rubles. This is a stark dip as the US dollar traded at 100.30 Rubles a month ago and is down by 8 points in 30 days. Therefore, the Russian Ruble is outperforming the US dollar in the currency market this month despite the sanctions. Source: Yahoo Finance The US sanctions against Russia seem to be ineffective as the BRICS member is cleverly playing its cards to sustain its economy. So how did Russia manage to make its currency come out on top of the...