GOLD

Gold

Billion

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 <p>The U.S. dollar has outperformed all the 11 BRICS currencies in the last 3 months in the forex markets. BRICS is looking to dethrone the U.S. dollar as the world’s reserve currency by putting their local currencies forward for trade. Despite initiating multiple efforts to take on the U.S. dollar, BRICS currencies are ending at a low against the USD. The U.S. dollar not only outperformed BRICS currencies, but also surpassed gold, oil, and other commodities in the international markets.</p>
 <p><strong>Also Read: Iraq Ready To Join BRICS After Banning Cash Withdrawals in US Dollar</strong></p>
 <h2 class="wp-block-heading" id="h-u-s-dollar-surpasses-all-11-brics-currencies-in-3-months">U.S. Dollar Surpasses All 11 BRICS Currencies in 3 Months</h2>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="640" src="https://cdn.thebittimes.com/images/2023/10/14/cb3685056d83fa3fcdbab9138383df77.webp" alt="us dollar king vs brics local currency" class="wp-image-115867" srcset="https://cdn.thebittimes.com/images/2023/10/14/cb3685056d83fa3fcdbab9138383df77.webp 1024w, https://cdn.thebittimes.com/images/2023/10/14/cb3685056d83fa3fcdbab9138383df77.webp 300w, https://cdn.thebittimes.com/images/2023/10/14/cb3685056d83fa3fcdbab9138383df77.webp 768w, https://cdn.thebittimes.com/images/2023/10/14/cb3685056d83fa3fcdbab9138383df77.webp 380w, https://cdn.thebittimes.com/images/2023/10/14/cb3685056d83fa3fcdbab9138383df77.webp 550w, https://cdn.thebittimes.com/images/2023/10/14/cb3685056d83fa3fcdbab9138383df77.webp 800w, https://cdn.thebittimes.com/images/2023/10/14/cb3685056d83fa3fcdbab9138383df77.webp 1040w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: thuancapital.com
  </figcaption>
 </figure>
 <p>The U.S. dollar reigned supreme as it surpassed all the 11 <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> currencies in the last three months. The <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> currencies ended at new lows against the USD despite the bloc attempting to contain the dollar’s growth. The development highlights the power of the USD against the other local currencies in the foreign exchange markets.</p>
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 <p><strong>Also Read: Will <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> Countries Suffer Losses If They Abandon the US Dollar?</strong></p>
 <p>Below is the list of all the 11 BRICS currencies that ended at a new low against the U.S. dollar. (The + symbol is the gains for the USD against the BRICS local currencies)</p>
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 <ol>
  <li>Brazil (USD/BRL) +5.34%</li>
  <li>Russia (USD/RUB) +8.23%</li>
  <li>India (USD/INR) +1.34%</li>
  <li>China (USD/CNY) +2.30%</li>
  <li>South Africa (USD/ZAR) +5.08%</li>
  <li>Saudi Arabia (USD/SAR) 0.00%</li>
  <li>UAE (USD/AED) 0.00%</li>
  <li>Argentina (USD/ARS) +32.07%</li>
  <li>Egypt (USD/EGP) +0.02%</li>
  <li>Iran (USD/IRR) +250%</li>
  <li>Ethiopia (USD/ETH) +1,250%</li>
 </ol>
 <p><strong>Also Read: BRICS: China Saves $10 Billion By Purchasing Laundered Oil</strong></p>
 <figure class="wp-block-image size-full"><img decoding="async" width="842" height="496" src="https://cdn.thebittimes.com/images/2023/10/14/06b67c928095d990509afa19f0ef37e7.webp" alt="us dollar dxy index" class="wp-image-114666" srcset="https://cdn.thebittimes.com/images/2023/10/14/06b67c928095d990509afa19f0ef37e7.webp 842w, https://cdn.thebittimes.com/images/2023/10/14/06b67c928095d990509afa19f0ef37e7.webp 300w, https://cdn.thebittimes.com/images/2023/10/14/06b67c928095d990509afa19f0ef37e7.webp 768w, https://cdn.thebittimes.com/images/2023/10/14/06b67c928095d990509afa19f0ef37e7.webp 380w, https://cdn.thebittimes.com/images/2023/10/14/06b67c928095d990509afa19f0ef37e7.webp 550w, https://cdn.thebittimes.com/images/2023/10/14/06b67c928095d990509afa19f0ef37e7.webp 800w" sizes="(max-width: 842px) 100vw, 842px">
  <figcaption class="wp-element-caption">
   Source: MarketWatch.com
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 </figure>
 <p>In addition, the U.S. dollar trounced gold to its 6-month low falling below the $1,850 mark this month. The gold index against the dollar XAU/USD has fallen to its March 2023 lows. The U.S. dollar DXY index touched 107 this month and is only 7 points away from reclaiming its 52-week high of 114.</p>
 <p>In conclusion, the U.S. dollar beat all <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> currencies, 5 other leading currencies, <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a>, <a rel="noopener noreferrer nofollow" title="Oil" href="https://thebittimes.com/tag/oil.html">Oil</a>, and commodities in three months. The USD is the de facto stronger currency and no other local currency is close to uprooting its global reserve status.</p>
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<div class="cs-entry__tags">
 <ul>
  <li>BRICS</li>
  <li>GOLD</li>
  <li>Oil</li>
  <li>US DOLLAR</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/u-s-dollar-outperforms-all-11-brics-currencies-gold-tbt66380.html">https://thebittimes.com/u-s-dollar-outperforms-all-11-brics-currencies-gold-tbt66380.html</a></p>

U.S. Dollar Outperforms All 11 BRICS Currencies & Gold

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