Synopsis:
Phrase of De-dollarization: For decades, the U.S. dollar has been the unrivaled king of global finance. It has dominated international trade, served as the primary reserve for central banks, and acted as the benchmark for vital commodities like oil and gold. But now, that supremacy is being challenged. Around the world, the conversation is shifting toward De-dollarization and the rise of a potential BRICS currency, two forces that could redefine the future of the global economy.
Table of Contents
American trend forecaster Gerald Celente recently warned that the era of U.S. dollar dominance is nearing its end. His observation reflects a growing reality: countries are seeking greater economic independence, while blocs like BRICS—Brazil, Russia, India, China, and South Africa—are increasingly pushing back against Washington’s financial power. Together, these trends are laying the foundation for a multipolar currency world.
'Only 2% of India's GDP comes from trade with the US. That's it'
— KarmaYogi (@karma2moksha) August 7, 2025
Gerald Celente - American business consultant told RT’s Rick Sanchez that India is becoming more self-sufficient and refuses to kowtow to US demands.
Trump would need better advisors now pic.twitter.com/E3amsgfTjb
The Push for De-dollarization
The term De-dollarization is no longer just an academic concept; it is a practical policy being pursued by major economies. It refers to countries reducing their reliance on the U.S. dollar by settling trade in alternative currencies. China, Russia, Iran, and other BRICS members are spearheading this effort. For example, Moscow and Beijing have ramped up their trade in rubles and yuan, deliberately cutting out the dollar.
This matters because global demand for the dollar has long been tied to its role in trade. If nations settle oil, technology, or commodity deals in currencies other than the greenback, the world needs fewer dollars to function. Over time, this trend chips away at America’s financial influence.
Geopolitical Backlash and Alternative Systems
Washington’s reliance on sanctions has accelerated De-dollarization. By weaponizing the dollar to punish countries like Iran, Venezuela, and Russia, the U.S. has unintentionally motivated those nations to build parallel financial systems. Sanctions fatigue has now spread beyond America’s traditional rivals, pushing more countries to diversify away from the dollar.
Russia and China are leading this parallel system-building, while other nations quietly follow suit. As a result, a growing number of economies are no longer comfortable being overly exposed to U.S. financial decisions. Instead, they are preparing for a world where trade and investment can continue without being hostage to the dollar.
The Rise of a BRICS Currency
Alongside De-dollarization, the idea of a BRICS currency is gaining momentum. Representing over 40% of the global population and a significant share of world GDP, the BRICS bloc has the scale to challenge Western financial dominance.
Although a common BRICS currency is still in the discussion phase, its potential impact is huge. If BRICS nations adopt a shared medium of exchange for oil, commodities, and technology, the dollar’s grip on global trade would loosen dramatically. Even the mere debate about such a currency signals that countries are ready to reimagine financial systems outside of U.S. control.
Also read about the recent BRICS Summit 2025
Consequences for the United States
If De-dollarization and the creation of a BRICS currency continue to gather pace, the consequences for the U.S. will be significant. A weaker dollar would make imports costlier, fueling inflation. Reduced demand for U.S. Treasury bonds would force Washington to borrow at higher interest rates. More fundamentally, the U.S. risks losing what has long been called its “exorbitant privilege”—the ability to finance deficits, wars, and stimulus packages without facing immediate economic repercussions.
What Experts Are Saying
American analysts argue that the decline of the dollar is not hypothetical but already underway. They caution that overreliance on sanctions and deficit-driven policies are accelerating the shift toward De-dollarization. Without meaningful changes in strategy, the U.S. risks undermining its own economic stability as more countries consider alternatives like a BRICS currency.
India’s Role in De-dollarization
India is playing a careful but significant role in this transformation. While not aggressively anti-dollar, India has taken measured steps to reduce dependence on the greenback. The Reserve Bank of India (RBI) has encouraged rupee-based trade, especially with countries like Russia and Iran, and diversified its foreign exchange reserves.
This approach not only strengthens India’s financial independence but also aligns it with the larger Global South movement to democratize international finance. In this emerging landscape, India could act as both a bridge and a beneficiary of a world less dominated by the dollar.
Why It Matters to You
Conclusion: The Future Beyond the Dollar
The U.S. dollar is unlikely to vanish overnight, but its era of unquestioned supremacy is fading. The dual forces of De-dollarization and the push for a BRICS currency are steadily reshaping the global financial order. For the United States, this presents serious challenges that demand strategic adaptation. For countries like India, it opens opportunities to assert greater financial sovereignty. And for individuals, it is a reminder that global finance is entering a new chapter—one where multiple currencies share power rather than a single dollar dictating the rules.
The real question now is not whether De-dollarization and a BRICS currency will shape the future, but how quickly and deeply this transition will transform the global economy.
Pratik Kondawale
Strategist | Indian Defence & Global Affairs
Founder of GeoLens.in, Pratik writes in-depth analysis on India’s defence strategy, military tech, and global power shifts delivering sharp insights through an Indian lens.
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