US Dollar gets a big upset
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Announcement of the end of the use of the dollar in trade between China and Brazil, trade will now be conducted in national currencies. According to reports, the Chinese bank has issued a statement confirming the first deal between China and Brazil in their national currencies.
China and Brazil, both member countries of the BRICS organization, aim to eliminate the use of the dollar in their mutual trade.
The dollar has become cheaper in the international market.
According to the report, China has purchased 43 batches of yuan, converting them into Brazilian reais, for the port of Qingdao.
As a result, trade transactions between the two countries have now begun in their national currencies.
It's worth noting that the prediction of the imminent end of the dollar's dominance is being made by Russia's most powerful banker, Andrei Kostin, due to the increasing value of the Chinese currency, the yuan.
