Fastepo: BRICS Currency Unveil in 2024

The international financial landscape is set for a significant shift as the BRICS nations – Brazil, Russia, India, China, and South Africa – are developing a new currency to reduce global reliance on the US dollar. This move aims to enhance economic integration, diminish US influence, and offer an alternative for international trade and finance. The idea of a BRICS currency gained more attention following the 2008 global financial crisis, which exposed vulnerabilities in the global financial system dominated by the US dollar. In 2022, during the 14th BRICS Summit, Russian President Vladimir Putin highlighted the need for a new…