The currency swap has now been applied to many countries in their trade. UAE and Saudi Arabia have practically abandoned the petrodollars as they have applied currency swap in exporting their oil. The demand for the usd is decreasing rapidly as the entire world has now the possibility to trade with each other via an alternative “system” than the usa dominated SWIFT transaction system. BRICS and its NDB are moving forward to give developing countries an alternative to reach the shared future with China and Russia.
