BRICS Summit 2024: Russian President Calls For De-Dollarization, Here's How It Could Impact US Investors
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 24 2024
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Source: Benzinga
Impact of BRICS Summit on Dollar Dominance: The recent BRICS summit in Kazan has heightened discussions on de-dollarization, with Russian President Putin advocating for alternative payment systems, raising concerns among U.S. investors regarding the dollar's long-term role in global trade.
Challenges to Transitioning from Dollar: Despite the expanded BRICS bloc's potential challenge to dollar hegemony, experts indicate that any significant shift away from the dollar will be gradual, as over 80% of global trade transactions are still conducted in U.S. dollars.
Analyst Views on UDN
Wall Street analysts forecast UDN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for UDN is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
