"Analyzing the Decline: The US Dollar Ranks Tenth in BRICS-Guided Currency Review"

Discussions amongst BRICS nations and several emerging economies are underway aiming to topple the US Dollar from its current global reserve currency position. This movement has gained momentum as BRICS nations commenced their 'de-dollarization' project. Leaders of this initiative, China and Russia, who are also BRICS members, are zealously persuading other developing countries to abandon their reliance on the US dollar. In 2024, Forbes publicized a list, featuring the top 10 robust currencies globally, measured by strength. Expectedly, it found no representation from any of the BRICS nations. The national currencies of these BRICS countries simply do not possess the viability to compete in the international currency arena. In contrast, the US dollar was identified at the bottom of this Forbes list, ranking as the 10th strongest global currency in 2024. Taking the lead on this list was Kuwaiti Dinar, followed closely by the Bahraini Dinar. Holds on the subsequent three spots were by the Omani Rial, Jordanian Dinar, and the Gibraltar Pound. The balance of the line-up included the British Pound in sixth place, the Cayman Island Dollar in the seventh position, followed by the Swiss Franc and the Euro in eighth and ninth places, respectively. Regrettably, despite its global role as a reserve currency, the US Dollar found itself at the bottom of the list, highlighting the growing influence of currencies from non-mainstream economies. This development holds significant implications for the future standing of the US Dollar, particularly when viewed in light of BRICS nations' ongoing de-dollarization efforts.