At the upcoming BRICS summit, the establishment of a common currency will be discussed among Brazil, Russia, India, China, and South Africa. The creation of new currency zones in different regions of the world has already been considered by BRICS and CELAC, and a single currency for all of them may be established in a few years. The proposal for a shared currency among the BRICS countries suggests a statement about the current hegemonic position of the US dollar in the world’s currency markets.
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