India’s rupee has fallen to its lowest point ever, trading at 84.6850 per dollar after a government report revealed the slowest economic growth in two years. But the rupee isn’t just slipping because of domestic issues.

Why are countries trying to move away from the dollar? What has India done so far in this regard? And why is there a risk of Chinese domination if the dependence on the US dollar does go down?

President-elect Donald Trump said he would require countries that are part of BRICS — a China- and Russia-backed group of emerging economies — to commit to not creating new currency or face 100% tariffs during his administration.

The proposed tariffs would remain until those nations commit to not backing a new currency to replace the dollar, Trump said.

President-elect Donald Trump has announced plans to impose 100% tariffs on BRICS nations—Brazil, Russia, India, China, and South Africa—if they attempt to replace the U.S. dollar as the global reserve currency.

President-elect Donald Trump has issued a stark warning to BRICS nations, threatening 100% tariffs if they attempt to create a rival currency to the US dollar. With major players like China, Russia, and India involved,