It has been just revealed that the BRICS are almost finishing up the currency and say that we can wave goodbye to the US dollar, the sound, and the Euro as well. Check out the latest report about this below.
BRICS to launch their currency soon
According to an interview with TV BRICS, Sergey Glazyev, a former Russian minister, has announced that a currency unique to BRICS nations is almost ready to launch.
Glazyev stated that although the currency is nearly complete, it requires the support of all economic alliance leaders.
Glazyev has confirmed that some member countries have already expressed their support for the currency.
“We need only political will because, technically this currency is almost ready. The software and mathematical tools have been created.
In order to launch this currency, we need the political consent of the BRICS countries, three of which have already expressed their support for the idea of introducing a new currency through their heads of state. We are waiting for the reaction of China and India.”
The former minister stated that Russia will be able to persuade other BRICS nations to approve the currency next year.
As the presiding country, Russia could organize an international conference to sign an agreement on the introduction of a new international settlement currency.
Although BRICS nations differ in their support for a common currency, leaders in Russia and Brazil strongly support the idea.
South Africa is more cautious, emphasizing the importance of the US dollar and suggesting a careful approach. The new currency will be backed by two baskets, making it more attractive and less susceptible to debasement than the US dollar, according to Glazyev.
“It is based not only on a basket of national currencies of the member countries, but also on a basket of exchange commodities. The model shows that this currency will be very stable and much more attractive than the dollar, pound and euro.”
