Quote from: MusaMohamed on Today at 02:21:03 PM

Quote from: pooya87 on Today at 05:33:09 AM

As you correctly pointed out, this is a gradual move where every country goes through the dedollarisation process

The 15th BRICS summit is going to be very interesting which will be held on 22 – 24 August (about a month from now) and some are saying the BRICS new currency will be revealed then. This could potentially have a significant effect on the ongoing dedollarisation around the globe.

I agree that a more decentralization of global currencies, it will be better and less shocks from any big change in the USA. and US dollar. However, new currency from multilateral union will have many challenge to increase and maintain their power as well as competitiveness in global economy.

In 2022, The Euro currency lost its parity with the US. dollar is example. BRICS currency will have same or even bigger challenge because it is a newborn currency and we have to think BRICS are stronger then the Euro zone or weaker.

Exactly. The bigger problem that sometimes is overlooked is that these currencies (BRICS or EURO) are considered as replacement for dollar which means United States regime will do everything in its power to prevent it from happening. In fact US is the only regime in the world that if you dump their currency they consider it as an act of war. They've bombed countries for less...

As for the fate of BRICS currency, I think the chances of success is higher than euro. One main reason is that members of BRICS are more independent than Europeans and unlike the time euro was created, today US is weak.