BRICS Nations Working On Developing A “New Currency”

(Photo Credit: Twitter/ @EVILSAGAGemini)


The Cradle: BRICS nations working on ‘fundamentally new currency’: Russian official 

The US dollar’s hegemony in international markets continues to deteriorate partly due to the Global South’s refusal to enforce western sanctions against Russia 

The Deputy Chairman of Russia’s State Duma, Alexander Babakov, said on 30 March that the BRICS bloc of emerging economies – Brazil, Russia, India, China, and South Africa – is working on developing a “new currency” that will be presented at the organization’s upcoming summit in Durban. 

“The transition to settlements in national currencies is the first step. The next one is to provide the circulation of digital or any other form of a fundamentally new currency in the nearest future. I think that at the BRICS [leaders’ summit], the readiness to realize this project will be announced, such works are underway,” Babakov said on the sidelines of the Russian-Indian Strategic Partnership for Development and Growth Business Forum.




WNU Editor: This BRICS currency proposal will be presented at the next BRICS summit in South Africa …. South Africa to host 15th BRICS summit at Durban in late August 2023 (Business Standard). 

BRICS Nations Working On Developing A “New Currency”


Ditch the dollar movement grows as Moscow calls for the creation of a common BRICS currency — Kitco News

BRICS Group Works On A New Form Of Currency — Telesur

Hold Onto Your Wallets — A New World Currency Could Be In The Making, Courtesy Of BRICS Nations — Benzinga

BRICS Looking At Basing Financial Reserves On A Basket Of Their Own Currencies — Silk Road Briefing

Source :

Leave a comment