ALBAWABA - Egypt has initiated a formal step within the current strategy of the BRICS group aimed at reducing its reliance on the US dollar, according to various reports.
Egypt wants to use their own money more for trading instead of relying on the dollar. They say it will help them deal with financial pressures better.
This move shows that Egypt, along with other countries in BRICS, is trying to change how they do business globally. They want to be less dependent on the US dollar, especially with all the problems happening in the US economy.
According to "Watcher Guru", this decision reflects a broader trend among BRICS countries driven by global economic shifts and increasing concerns over geopolitical tensions and Western sanctions. With the US economy facing challenges and escalating debt, rising economies within the BRICS group are looking towards trading in national currencies.
It's a big step for Egypt and shows they're serious about making their own way in the world of trade.
