Strengthening the national currency is one of the key pillars of de-dollarization because when the national currency is strengthened.

Prime Minister Ibrahim said, however, it would be difficult to stop the reliance on the US dollar.

South African President Cyril Ramaphosa said on Wednesday that the BRICS group of nations would continue discussions on practical use of local currencies to facilitate trade and investment flows.

Russia's President Vladimir Putin says the shift away from the US dollar in internal trade among the members of the BRICS is an "irreversible process."

The crippling sanctions imposed by the US on countries such as Iran and Russia have prompted them to look for ways to ditch the greenback that US uses as a “stick” against others, says an Indian journalist.

India and Indonesia sign deal to use their local currencies in bilateral trade, ditching the US dollar.

India and the United Arab Emirates sign an agreement to implement bilateral trade in local currencies instead of the US dollar.