Following the US Federal Reserve's sharpest tightening in monetary policy in decades, India has offered its currency as an alternative for trade to nations that are experiencing a shortage of dollars. The eighteen countries that have agreed to use India's rupee as an alternate reserve currency include Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda, and the United Kingdom. Meanwhile, the BRICS countries (Brazil, Russia, India, China, and South Africa) are in the process of developing their own currency that will be presented at the organization's upcoming summit in South Africa.

Excerpt from the Prepared Homestead/ Gateway Pundit:

Below is recap of countries stepping away from reliance on the US dollar:

Saudi Arabia enters trade alliance with China, Russia, India, Pakistan, and four Central Asian nations to step further away from reliance on the US dollar.

China and France complete first LNG gas trade using Chinese Yuan, ending reliance on the US dollar for energy trades.

China and Brazil to settle trades in their own currencies, ditching the US dollar.

Brazil, Russia, India, China, and South Africa (BRICS) are developing a new currency, State Duma Deputy Chairman says.

Saudi Arabia partners with China to build a Chinese oil refinery for 83.7 billion yuan ($12.2 billion).

Kenya signs deal with Saudi Arabia and UAE to buy oil with Kenyan shillings instead of US dollars.

President of Kenya tells citizens to get rid of US dollars.

Association of Southeast Asian Nations considers dropping the US dollar, euro, yen, and British pound for local currency financial settlements.