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currency
Creation of BRICS Currency to Rival US Dollar Is ‘Inevitable,’ Analysts Say
Analysts say this week’s summit of the BRICS countries—Brazil, Russia, India, China and South Africa—in Johannesburg will herald the creation of a gold-backed currency to rival the U.S. dollar. BRICS wants freedom from traditional, “Western-dominated structures” such as the International Monetary Fund and the World Bank.
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Creation of BRICS Currency to Rival US Dollar Is ‘Inevitable,’ Analysts Say
Analysts say this week’s summit of the BRICS countries—Brazil, Russia, India, China and South Africa—in Johannesburg will herald the creation of a gold-backed currency to rival the U.S. dollar. BRICS wants freedom from traditional, “Western-dominated structures” such as the International Monetary Fund and the World Bank.
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