BRICS Nations China, India and Brazil Dump $29,000,000,000 in US Treasuries in One Month As Standard Chartered Warns ‘Dedollarization Is Real’
Three BRICS countries just slashed their US Treasury holdings.
New data from the U.S. Treasury International Capital reporting system shows Brazil, China and India cut their US Treasury holdings by $29 billion in September.
India led the pack, reducing its US Treasury holdings by $16.7 billion in the last month of Q3.
Brazil scaled down its US Treasury holdings by $11.8 billion over the same period.
China, which is now the third-largest holder of US Treasuries after Japan and the United Kingdom, pruned its US Treasury holdings by $500 million in September.
The selloff coincides with Standard Chartered’s senior economist and global head of geopolitics, Philippe Dauba-Pantanacce, stating that dedollarization is already underway, albeit progressing slowly.
According to Dauba-Pantanacce,
“More and more countries are seeking to reduce their dependence on the dollar, partly because the United States has used the dollar as a weapon for political purposes…
De-dollarization is real, but progressing slowly and does not change the fact that the dollar remains the dominant currency in international trade, global reserves, and financial markets.”
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Litecoin Holds $100 Base as Chart Signals 2025 Recovery

Stablecoins Gain Popularity in Venezuela as Hyperinflation and Sanctions Persist

Fed Rate Cut Triggers Mixed Crypto ETF Performance as Bitcoin, XRP ETFs Post Inflows, Ether Outflows
Bitcoin To Retest $85,000 Mark In Coming Days – Here’s Why

