US Treasury Confronted on BRICS Trade Settlement News

SD Bullion

English - July 17, 2023 16:06 - 13 minutes - 25.3 MB - ★★★★★ - 12 ratings
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US Treasury head Janet Yellen was confronted about the impact of the BRICS currency trade settlement system during her visit to China. The claim that 90% of international transactions involve the US dollar is misleading; the actual figure is closer to 43%. Factors like the rise of m-CBDC systems and increasing gold reserves in BRICS nations are likely to further reduce the demand for the fiat US dollar.