Targeting the US Dollar’s Hegemony: Russia, China, and BRICS Nations Plan to Craft a New International Reserve Currency

Source: Bitcoin.com
by Jamie Redman

“While inflation data in Europe and the U.S. has risen significantly higher last month, Russia and members of the BRICS countries revealed leaders in the five major emerging economies are in the midst of ‘creating an international reserve currency.’ Analysts believe the BRICS reserve currency is meant to rival the U.S. dollar and the International Monetary Fund’s (IMF) Special Drawing Rights (SDRs) currency. … While the news of a reserve currency created by BRICS may be a surprise to some, specific accounts about the member countries countering the U.S. dollar have been reported on for quite some time. At the end of May 2022, a Global Times report noted members were urged to end their dependence on the dollar’s global dominance.” (07/24/22)

https://news.bitcoin.com/targeting-the-us-dollars-hegemony-russia-china-and-brics-nations-plan-to-craft-a-new-international-reserve-currency/