BRICS Currency to Grow More Attractive than American Greenback, Pound, Euro
TEHRAN (Tasnim) – A former adviser to Russia’s president said that the currency of the BRICS group of emerging economies will be more attractive than the US dollar, UK Pound and Euro.
Sergey Glazyev spoke about the upcoming BRICS currency and the group’s ambition to uproot the US dollar’s global supremacy, saying that BRICS wants to dethrone the US dollar as the world’s reserve and replace it with their yet-to-be-launched currency.
The BRICS bloc has already begun using local currencies for trade, ending dependency on the US dollar for cross-border transactions, he said.
Glazyev confirmed that the BRICS currency is “almost ready” and its launch could be decided in the 16th summit in 2024. He is so confident about BRICS currency’s prospects, that he predicted it will grow more attractive than the US dollar, Pound, and Euro, watcher.guru.com reported.
Glazyev hinted that the upcoming BRICS currency will be linked to the national currencies of the members. In addition, he pointed out that the currency will be linked to the exchange commodities market.
“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,” he said.
