Could a BRICS currency be de-dollarized?

The appeal of de-dollarization and a possible BRICS currency would be to mitigate such problems. Experts in the U.S. are deeply divided on its prospects. U.S. Treasury Secretary Janet Yellen believes the dollar will remain dominant as most countries have no alternative.

Is the BRICS destroying the US dollar?

The newly-expanded non-Western bloc known as the BRICS is using the global oil trade to erode the US dollar's status as the dominant international currency.

Will BRICS develop a new currency?

There has been increasing talk of the BRICS nations (Brazil, Russia, India, China and South Africa) developing a new currency that will rival the US dollar as the global reserve standard. This month, the leaders of BRICS will meet in South Africa for further discussions on the matter.

Could a BRICS currency end dollar dominance?

U.S. Treasury Secretary Janet Yellen believes the dollar will remain dominant as most countries have no alternative. Yet a former White House economist sees a way that a BRICS currency could end dollar dominance. Although talk of a BRICS currency has gained momentum, there is limited information on various models under consideration.