2 Countries Agree To Settle Trade in Local Currencies, Not US Dollar
Two new developing countries recently collaborated to settle trade in local currencies, not the US dollar. The collaboration comes when developing nations seek to boost regional trade that benefits their economies. This puts pressure on the US dollar as countries in Asia, Africa, and South America are putting local currencies ahead of the USD. Also Read: Donald Trump Warns of Consequences If BRICS Ditches the US Dollar US Dollar: Afghanistan & Uzbekistan Collaborate to Boost Regional Trade Source: m.akipress.com Afghanistan and Uzbekistan have collaborated to boost regional trade with major new agreements without the US dollar. The deals include the construction of the UAP Railway Project and the Termez International Trade Center. Afghanistan’s Taliban government has also increased trade with its neighbouring countries, such as Uzbekistan, Turkmenistan, and Kazakhstan. Projects like the TAPI Gas Pipeline and Trans-Afghan Corridor are growing rapidly. Also Read: Currency: Russia I...