Dollar Is In Danger

According to experts, in the coming days, in the international trade between Asia, Africa, and South America, the rule of the dollar is ending.

According to the sources, 70% of the volume of trade between China and Russia began to be in local currencies, after which more than 30 countries around the world started trading with China in Yuan.

Speaking at a forum in this regard, the Russian Minister of Finance said that mutual trade with China has been transferred to the Chinese currency ‘Yuan’ and the Russian ruble, which accounts for 70% of the volume.

According to a report, mutual trade between Russia and China in 2022 will be more than 190 billion dollars, in which 70 percent of the trade is in “Yuan” and “Ruble”. This year these numbers will exceed 200 billion dollars.

Also, Read:  On the first day of business after Eid, the dollar became expensive in interbank

In March of this year, mutual trade between Brazil and China was recorded at more than 170 billion dollars, which is expected to increase further.

According to experts, apart from Russia and Brazil, 30 countries including Pakistan are also shifting their trade with China to local currency.