BRICS members: India, Brazil, and China are consistently dumping the US treasuries by offloading billions worth of government bonds.
- The trio are looking to keep the US dollar from ending on a high against their respective local currencies.
The US dollar is now at a 10-month high against BRICS currencies and the developing nations are selling US treasuries to keep their currency from ending on a low.
- The rising US dollar is worrisome for BRICS as it impacts their import and export sector.