BRICS Summit Ended with No New Currency and Contradictory Commentary on De-dollarization

The BRICS summit ended with no new currency and all 5 members issuing differing and contradictory commentary on de-dollarization Huileng Tan Aug 28, 2023, 12:54 AM EDT De-dollarization was a closely watched topic amid the BRICS summit last week. But BRICS nations appear divided on the issue, as statements from the bloc’s leaders indicated. The latest SWIFT data showed the USD was used for a record 46% of foreign exchange payments in July. A group of major emerging economies wrapped up a summit in South Africa last Thursday by welcoming six new members — but without a new dollar-challenging currency. The summit of Brazil,…