BRICS Countries and Digital Currencies Chip Away at Dollar Dominance, Potentially Accelerating Its Decline in 2024
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BRICS countries are seeking to reduce reliance on the US dollar in trade, which could contribute to its decline in 2024.
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Gold prices are expected to continue rising in 2024, which signals concerns about inflation and the US economy.
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Bitcoin and other digital assets are growing in popularity globally, competing with the dollar as countries develop their own digital currencies.
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Multiple economists predict the US dollar will decline in 2024 due to these economic factors.
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Countries moving away from the dollar to conduct trade with assets like gold and digital currencies diminishes its status.