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BRICS Nears Launch of New Currency, Challenging US Dollar Dominance
BRICS Nears Launch of New Currency, Challenging US Dollar Dominance
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BRICS nations are advancing plans for a joint currency, with Russian President Vladimir Putin revealing a prototype at the 16th summit in Kazan. The alliance’s combined economic weight—including control over key energy markets—positions the potential currency as a viable dollar alternative.
Three critical hurdles remain: establishing monetary policy coordination among members, creating sufficient liquidity mechanisms, and achieving widespread adoption beyond the bloc. Success WOULD mark the first credible challenge to dollar hegemony since the euro’s introduction.
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