US dollar faces a worst blow from two leading countries of the World
Shares
"Trade dominance is mostly based on the US dollar worldwide, which causes local currencies to suffer losses. If instead, this trade is conducted in local currencies, it will directly benefit those countries.
This is why many countries in the world are now attempting to promote trade in their local currencies, understanding its importance.
China and Brazil have initiated trade in their national currencies instead of the dollar, and previously, Argentina and Bolivia had also conducted transactions in the yuan.
According to reports, in the scope of trade between both countries, China's national currency, the 'Yuan,' received payments directly converted into the Brazilian currency 'Real,' marking the first instance of using national currencies.
According to an international news agency report, this transaction was made to purchase goods from the company 'El Dorado Brazil,' with its central office located in the city of Shanghai, China."
