De-dollarisation refers to efforts by countries to reduce their dependence on the US dollar in international trade, finance, and foreign exchange reserves. The topic has gained renewed attention as BRICS nations and several emerging economies explore the use of local currencies and alternative payment systems for cross-border transactions.
For decades, the US dollar has dominated global trade and commodity markets. Most commodities, including crude oil, natural gas, gold, industrial metals, and agricultural products, are priced and traded in dollars. However, rising geopolitical tensions, sanctions-related concerns, and the desire of emerging economies to diversify their reserves have encouraged countries to look for alternatives.
