Several countries have begun reducing or "abandoning" the U.S. dollar in international trade and reserves, a process known as de-dollarization, led primarily by BRICS nations (Brazil, Russia, India, China, South Africa), Iran, and several ASEAN members. Driven by sanctions, high dollar risk, and the desire for economic autonomy, countries are increasingly using local currencies or the Chinese yuan for bilateral transactions, particularly for oil and commodities.
The Commonwealth of Independent States (CIS), which consists of Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Uzbekistan and Ukraine, is striving to expunge US currency from being used for transactions within their respective borders and between each other.
Many perceive the BRICS countries as a counterweight to the dollar-dominated monetary order. However, the facts speak for themselves: at the BRICS summit in Rio de Janeiro (6–7 July 2025), no real desire to break away from the US currency was expressed. De-dollarisation remains a distant prospect.
What is the safest investment if the economy collapses?
"High-quality, investment-grade corporate bonds generally hold up well during a recession, because they are considered a safer asset in comparison to stocks, and their prices can actually increase while investors seek safety," says Farrell Liger, CEO of New York-based financial education firm Farrell Liger Inc.
Trump in TERROR as World Plans MASSIVE BOYCOTT: "Make America Go Away" Viral
What is the 3 strongest currency?
The top 3 strongest currencies by exchange rate are consistently the Kuwaiti Dinar (KWD), the Bahraini Dinar (BHD), and the Omani Rial (OMR), all originating from oil-rich Gulf nations, followed by the Jordanian Dinar and British Pound. These currencies derive their strength from high oil revenues, pegged exchange rates (often to the USD), stable economies, and strong financial systems.
U.S. dollar, the official currency of the United States, the world's dominant reserve currency and the most traded currency globally. Euro, the currency used by the most countries and territories, the second-largest reserve currency and the second-most traded currency.
“You don't want to hold a currency that's going to be devalued by inflation,” said Sebastian Mallaby, senior fellow at the Council on Foreign Relations. President Donald Trump has argued in favor of a weaker dollar, which can make American exports more competitive overseas.
What does Warren Buffett say about the U.S. dollar?
Buffett reaffirmed his commitment to the investment at the AGM, saying he would keep it for "50 years or more." Buffett also expressed his fears concerning the U.S. dollar. "Obviously, we wouldn't want to be owning anything that we thought was in a currency that was really going to hell," he said.
So when the dollar weakens, this reduces the demand for dollars and it limits the US' ability to run large deficits and, of course, diminishes its geopolitical influence. So a weak US dollar seems to increase systemic risk and that's what everybody seems to be worried about.
The United States of America has formal diplomatic relations with most nations. This includes all United Nations members and observer states other than Bhutan, Iran and North Korea, and the UN observers of Palestine and the Holy See.
A new BRICS currency would also: Strengthen economic integration within the BRICS countries. Reduce the influence of the US on the global stage. Weaken the standing of the US dollar as a global reserve currency.
Whether it's a good time to buy dollars (USD) depends on your currency perspective (e.g., from GBP, EUR) and goals, but generally, you want to buy when the rate is favorable, often by watching historical trends and avoiding weekends/holidays; for instance, some sources suggest the GBP/USD rate is currently favorable for buying dollars, though markets are always fluctuating, so spreading purchases or using rate alerts are smart strategies.
For generations, the US dollar has been regarded as the ultimate 'safe haven'. In times of uncertainty, global investors instinctively seek the depth, liquidity, and unrivalled status of the world's reserve currency.
The British pound is the world's oldest currency still in use at around 1,200 years old. Dating back to Anglo-Saxon times, the pound has gone through many changes before evolving into the currency we recognise today. The British pound is both the oldest and one of the most traded currencies in the world.
Where to put your money before the market crashes?
Diversification can protect you from the stock market crash, allocating your funds to multiple assets instead of investing all your savings in a single asset class. By investing in bonds, you lend money to the government or a company that agrees to repay the invested amount with interest.
The 10-5-3 rule is a simple guideline for long-term investment returns, suggesting average annual gains of 10% for equities (stocks), 5% for debt (bonds), and 3% for cash/savings, helping investors set realistic expectations for asset allocation and risk/reward balance, though actual returns vary and depend heavily on market conditions and individual goals.
