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BRICS Currency Name Sparks Speculation as Bloc Prepares Big Move
BRICS Currency Name Sparks Speculation as Bloc Prepares Big Move
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BTCCSquare news:
Discussions around the potential BRICS currency name have intensified, with two leading contenders emerging: "R5" and "Unit." The R5 derives its name from the initial letters of the founding members' currencies—Real, Ruble, Rupee, Renminbi, and Rand—while the Unit proposes a gold-backed alternative. Analysts suggest a possible 2026 launch as member nations advance their payment infrastructure.
The R5 concept has gained traction due to its symbolic representation of the bloc's economic weight, with China and India accounting for approximately 40% and 25% of the basket currency's valuation, respectively. Russian Foreign Minister Sergey Lavrov highlighted the R5 as a gradual approach to monetary integration.
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