The BRICS economic bloc, consisting of Brazil, Russia, India, China, South Africa and new members, has explicitly rejected the idea of creating a common currency to rival the U.S. dollar.
Instead, BRICS is focused on developing joint investment platforms to enhance economic cooperation among member states and with third countries, according to Kremlin spokesman Dmitry Peskov.
U.S. President Donald Trump has warned BRICS nations against attempting to replace the U.S. dollar as the global reserve currency, threatening tariffs on countries that try to do so.
BRICS has made significant strides in reducing dependence on the dollar by establishing a cross-border payment system and expanding the use of national currencies in trade, particularly in response to Western sanctions.
While BRICS does not currently plan to create a common currency, its efforts to reduce reliance on the dollar and strengthen financial cooperation may have long-term implications for the global economic order, potentially diminishing the dollar's dominance over time.
The BRICS economic bloc, comprising Brazil, Russia, India, China, South Africa and several newly admitted members, has firmly dismissed speculation about creating a common currency to rival the U.S. dollar. Kremlin spokesman Dmitry Peskov clarified on Friday that the group is instead focused on developing joint investment platforms to enhance economic cooperation among member states and third countries.
https://www.naturalnews.com/2025-02-04-brics-rejects-dollar-challenge-no-plans-common-currency.html
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