In a significant de-dollarization situation, Belarus has now joined the rising spree of countries shifting away from the US greenback. The nation has overtly acknowledged the way it has decreased its dependence on the greenback, whereas its financial system continues to financial institution on the Belarusian ruble for future transactions and commerce.
Belarus’s New Foreign money Shift
Belarus is experiencing a surge in de-dollarization actions, as confirmed by its president, Aleksandr Lukashenko. Lukashenko, in a gathering with the administration of Belarus’ Nationwide Financial institution and heads of business banks on 9 September, shared that the US greenback share in Belarus has plunged step by step, with the nation favoring its personal foreign money, the Belarusian ruble, to conduct nearly all of its transactions.
“The de-dollarization of the financial system is continuing at an accelerated tempo. The share of the ruble part within the broad cash provide has elevated from 41% in December 2020 to 63% in July 2025. Merely put, because the begin of 2025. Individuals have been promoting a median of $30 million in international money day by day.” The president mentioned
Lukashenko reiterated how native foreign money narratives are thriving within the nation, with the Belarusian ruble gaining regular momentum within the area.
“When individuals belief the state, they convey their cash to the financial institution. It must be famous that some good outcomes have been achieved recently. Since 2021, time deposits in Belarusian rubles by authorized entities and people have nearly tripled,” Aleksandr Lukashenko acknowledged.
Gold Demand Rises As USD Falls
Amid all of the de-dollarization chaos, the US greenback continues to plunge to new ranges. With the September charge lower situation looming over, the USD is predicted to notice additional volatility, with traders pivoting in the direction of Bitcoin and gold as secure haven refuge choices amid the continued financial chaos.
Gold is changing fiat currencies as a reserve foreign money:
Gold’s share of worldwide worldwide reserves rose 3 share factors in Q1 2025, to 24%, the best in 30 years.
This marks the third consecutive annual enhance.
In the meantime, the US Greenback’s share declined ~2 share… pic.twitter.com/yDjcnT62Jh
— The Kobeissi Letter (@KobeissiLetter) August 31, 2025
