The US dollar is on a slippery slope as BRICS is looking to topple it from the world’s reserve currency status. The de-dollarization agenda is gaining steam as the alliance is convincing developing countries to cut ties with the US dollar. On the heels of the BRICS de-dollarization efforts, Citi Bank has predicted the future of the US dollar. Citi gave insights on how the leading currency could perform in the coming months. Watcher Guru
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BRICS: Citi Bank Predicts the Future of the US Dollar
Vinod Dsouza
Vinod Dsouza
September 15, 2024
US Dollar USD Currency Greenback Bill BRICS
Source: stock.adobe.com
The US dollar is on a slippery slope as BRICS is looking to topple it from the world’s reserve currency status. The de-dollarization agenda is gaining steam as the alliance is convincing developing countries to cut ties with the US dollar. On the heels of the BRICS de-dollarization efforts, Citi Bank has predicted the future of the US dollar. Citi gave insights on how the leading currency could perform in the coming months.

Also Read: BRICS: US & Europe Headed For a Recession, Warns BCA Strategist

BRICS: The US Dollar Could Dip, Predicts Citi Bank
Citi Bank
Source: TheStreet
Citi Bank has forecasted that the US dollar could decline amid the global slowdown and remain bearish for the next two months. The DXY index, which tracks the performance of the USD shows that currency at 101.40. That’s a sharp decline as the currency was at 106.20 in June this year. The decline comes when BRICS is advancing to push the US dollar to the bottom of the charts. Citi Bank forecasts that BRICS currencies could slightly outperform the US dollar in the next two months.