---
title: "De-Dollarisation Meaning and Impact | Model Diplomat"
description: "De-dollarisation is the reduction of reliance on the US dollar for trade and finance. It's crucial for policymakers and economists studying global finance."
url: "https://modeldiplomat.com/learn/glossary/de-dollarisation"
---

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Model Diplomat Research Team · Last reviewed June 22, 2026

TL;DR

- De-dollarisation is the deliberate reduction of reliance on the US dollar for international trade settlement, reserve holdings, and cross-border finance by states and institutions.
- Why did de-dollarisation accelerate after 2022?
- What is the 'exorbitant privilege' the dollar enjoys?
- Has BRICS created a common currency to replace the dollar?
- How does de-dollarisation relate to India's interests?

[Civil Service & Diplomatic Exams](https://modeldiplomat.com/learn/civil-services/glossary)Updated June 22, 2026

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After the February 2022 freezing of its reserves, Russia in 2023 settled most India-bound oil exports in rupees and dirhams, and at the August 2023 BRICS Johannesburg summit pressed members to expand local-currency trade.

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