Strategic Setback: BRICS Abandon Common Currency Plans

user avatar

by Giorgi Kostiuk

2 years ago

The BRICS nations have halted their project for a common currency, maintaining the dollar as the primary trade currency.

Reasons for Abandoning the Common Currency

The Kremlin announced that the BRICS initiative for a unified currency is no longer feasible, which came as a surprise. This decision is attributed to both internal economic realities of the bloc and external political changes involving Donald Trump's return to the White House.

not possibleDmitri Peskov

Return to the Dollar and Its Implications

Following the shelving of unified currency plans, BRICS representatives confirmed the continued use of the dollar in international trade. Vladimir Putin mentioned there are no plans to forgo the Greenback, indicating a strategic move possibly towards appeasing relations with the US.

Impact on Strategy and the Future of the Bloc

The decision to move away from the unified currency project could cause tensions within BRICS members. Brazil, for example, has hinted at pursuing its own currency diversification independently. The abandonment of dedollarization may undermine the bloc's credibility in future initiatives, though it allows flexibility in tailoring monetary policies to national priorities.

BRICS face strategic crossroads in seeking new initiatives to unite the bloc without a common currency and maintain its influence on the global stage.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Birdeye Unveils Peak, a New Terminal for Institutional Crypto Research

Birdeye has launched Peak, a new terminal aimed at institutional crypto researchers, consolidating various data and analysis services into one professional workspace.

user avatarMaya Lundqvist

Google Implements New Advertising Policy for Crypto Providers in UAE

Google has announced new licensing and certification requirements for crypto exchanges and software wallet providers targeting customers in the United Arab Emirates.

user avatarLeo van der Veen

Meta's Board Approves New Class of Nonvoting Stock

Meta's board has approved the creation of Class C nonvoting shares to be distributed to existing Class A and Class B shareholders, effective January 19, 2027.

user avatarLi Weicheng

Meta's Financial Strategy Ensures Founder Control

Meta's financial strategy includes plans to potentially raise hundreds of billions in equity while ensuring Mark Zuckerberg retains control over the company.

user avatarAisha Farooq

BitGo Introduces BitGo Labs to Innovate in AI and Cryptocurrency

BitGo has launched BitGo Labs to develop AI-integrated applications for its digital asset infrastructure, starting with the Gokubu app.

user avatarTenzin Dorje

TRON Solidifies Its Position as a Leading Blockchain Network for Stablecoin Settlement

In Q3 2026, TRON reinforced its position as a leading blockchain network for stablecoin settlement, achieving trillions in transaction volume and a record supply of USDT.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.