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CATEGORY: brics currency

Economist Analyzes Challenges of BRICS Currency Competing With US Dollar
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Jul 26, 2023 05:50

Economist Analyzes Challenges of BRICS Currency Competing With US Dollar

An economist has shared her analysis of how a common BRICS currency could compete with the U.S. dollar. “You need foreign exchange reserves and you need the trust of the investment community,” she explained, noting that the only country in the BRICS economic bloc to carry such a reserve currency was China. Economist on Chinese [...]

The post Economist Analyzes Challenges of BRICS Currency Competing With US Dollar appeared first on Crypto Breaking News.

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BRICS Currency Not on Agenda for Leaders’ Summit — Nations to Focus on De-Dollarization
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Jul 23, 2023 05:50

BRICS Currency Not on Agenda for Leaders’ Summit — Nations to Focus on De-Dollarization

The heavily anticipated BRICS currency is not on the agenda to be discussed at the economic bloc’s upcoming leaders’ summit, according to South Africa’s diplomat in charge of BRICS relations. He clarified that the BRICS members will focus on de-dollarization and promoting the use of national currencies in international trade instead of the U.S. dollar. [...]

The post BRICS Currency Not on Agenda for Leaders’ Summit — Nations to Focus on De-Dollarization appeared first on Crypto Breaking News.

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BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
May 18, 2023 05:55

BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies

South Africa’s BRICS Sherpa says one of the priorities at the upcoming BRICS summit is “to strengthen economic cooperation.” He added: “We need a stable global financial architecture, a global financial arena. That is why we say that we need to trade in our own currencies.” He also believes that the recession forecasts by the [...]

The post BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies appeared first on Crypto Breaking News.

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US Treasury Secretary: No Alternative Reserve Currency Can ‘Replicate’ Role Played by the Dollar
Author: btcethereumadmin
United States
Source: BTC Ethereum Crypto Currency Blog
Jun 16, 2023 01:20

US Treasury Secretary: No Alternative Reserve Currency Can ‘Replicate’ Role Played by the Dollar

United States Treasury Secretary Janet Yellen recently told members of the U.S. Congress that while some countries are seeking to create alternatives to the greenback, no country, including China, can create a currency which replicates the dollar’s role in the global financial system. The U.S. Treasury secretary also claimed that it will not be easy

The post US Treasury Secretary: No Alternative Reserve Currency Can ‘Replicate’ Role Played by the Dollar appeared first on BTC Ethereum Crypto Currency Blog.

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Economist Discusses Viability of BRICS Currency — Says Pegging to Chinese Yuan Would Be ‘First Major Step’
Author: btcethereumadmin
United States
Source: BTC Ethereum Crypto Currency Blog
Jun 15, 2023 01:20

Economist Discusses Viability of BRICS Currency — Says Pegging to Chinese Yuan Would Be ‘First Major Step’

An economist, who previously worked at the Bank for International Settlements (BIS), has provided insights on the possibility of a BRICS currency coexisting with the U.S. dollar. Noting that China is a major trading partner of all BRICS nations, he suggested: “Pegging to the renminbi and aligning their bilateral exchange rates would be the first

The post Economist Discusses Viability of BRICS Currency — Says Pegging to Chinese Yuan Would Be ‘First Major Step’ appeared first on BTC Ethereum Crypto Currency Blog.

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BRICS Nations Push to Expand Global Influence to Counter the West’s ‘Destructive Actions’
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Apr 13, 2023 05:50

BRICS Nations Push to Expand Global Influence to Counter the West’s ‘Destructive Actions’

The BRICS nations are focusing on increasing their international roles and “enhancing coordination on key multilateral platforms,” Russia’s Minister of Foreign Affairs reportedly revealed after a meeting with BRICS ambassadors. He stressed “the need for joint efforts to counter destructive actions aimed at destroying the established security architecture.” BRICS Seeks Expand Global Influence Russia’s Minister [...]

The post BRICS Nations Push to Expand Global Influence to Counter the West’s ‘Destructive Actions’ appeared first on Crypto Breaking News.

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Russia’s Central Bank: BRICS Currency Requires Consent of Many Parties, Faces Implementation Challenges
Author: btcethereumadmin
United States
Source: BTC Ethereum Crypto Currency Blog
Jul 12, 2023 01:20

Russia’s Central Bank: BRICS Currency Requires Consent of Many Parties, Faces Implementation Challenges

The governor of Russia’s central bank says the creation of a common BRICS currency “requires the consent of many parties.” While emphasizing that the proposed BRICS currency “deserves attention,” the Russian central bank chief cautioned that this project is challenging and “will be quite difficult to implement.” Bank of Russia Governor on BRICS Currency Bank

The post Russia’s Central Bank: BRICS Currency Requires Consent of Many Parties, Faces Implementation Challenges appeared first on BTC Ethereum Crypto Currency Blog.

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Robert Kiyosaki Warns US Dollar ‘Will Die’ Citing BRICS Nations’ Plan to Launch Gold-Backed Currency
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Jul 12, 2023 05:50

Robert Kiyosaki Warns US Dollar ‘Will Die’ Citing BRICS Nations’ Plan to Launch Gold-Backed Currency

Rich Dad Poor Dad author Robert Kiyosaki has warned that the U.S. dollar will die. He expects the BRICS nations (Brazil, Russia, India, China, and South Africa) to launch a gold-backed currency that will kill the USD. The famous author further stressed that U.S. dollars will come flooding home and inflation will go through the [...]

The post Robert Kiyosaki Warns US Dollar ‘Will Die’ Citing BRICS Nations’ Plan to Launch Gold-Backed Currency appeared first on Crypto Breaking News.

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Economist Jim Rickards Predicts Unveiling of New BRICS Currency — Says ‘the World Is Unprepared for This Geopolitical Shock Wave’
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Jun 11, 2023 10:35

Economist Jim Rickards Predicts Unveiling of New BRICS Currency — Says ‘the World Is Unprepared for This Geopolitical Shock Wave’

Jim Rickards, an economist and the author of “Currency Wars,” has predicted the unveiling of a new BRICS currency, stating that it “could weaken the role of the dollar in global payments and ultimately displace the U.S. dollar as the leading payment currency and reserve currency.” Emphasizing that “The process by which this will happen [...]

The post Economist Jim Rickards Predicts Unveiling of New BRICS Currency — Says ‘the World Is Unprepared for This Geopolitical Shock Wave’ appeared first on Crypto Breaking News.

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Investment Analyst Warns Successful BRICS Currency Could Hurt US Living Standards
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
May 11, 2023 05:50

Investment Analyst Warns Successful BRICS Currency Could Hurt US Living Standards

Investment analyst Jon Wolfenbarger has warned that a successful BRICS currency could hurt U.S. living standards and “lead to less power for the U.S. government, similar to the weakening of the UK after World War II.” He stressed: “Due to the Russia-Ukraine war and China’s continued economic growth, the BRICS are accelerating plans to take [...]

The post Investment Analyst Warns Successful BRICS Currency Could Hurt US Living Standards appeared first on Crypto Breaking News.

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BRICS Gold-Backed Currency Will Benefit Iran, Weaken US Dollar, Iranian Official Says
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Jul 10, 2023 05:50

BRICS Gold-Backed Currency Will Benefit Iran, Weaken US Dollar, Iranian Official Says

An Iranian official has stated that Iran stands to benefit from a gold-backed common BRICS currency. The official further asserted that such a BRICS currency would erode the U.S. dollar’s dominance and result in increased wealth for Iranians holding gold. “A tremendous change is taking place in the international economy,” the official stressed. Iran Will [...]

The post BRICS Gold-Backed Currency Will Benefit Iran, Weaken US Dollar, Iranian Official Says appeared first on Crypto Breaking News.

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Treasury Secretary Yellen: BRICS Currency Won’t Threaten US Dollar Dominance
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Jul 10, 2023 05:50

Treasury Secretary Yellen: BRICS Currency Won’t Threaten US Dollar Dominance

U.S. Treasury Secretary Janet Yellen has stated that she does not see the U.S. dollar’s dominance being threatened by any development, including the proposed BRICS currency. Yellen stressed that all the data of which she is aware shows that the dollar is overwhelmingly used in international transactions, emphasizing: “I don’t think that there is an [...]

The post Treasury Secretary Yellen: BRICS Currency Won’t Threaten US Dollar Dominance appeared first on Crypto Breaking News.

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BRICS Bank Official Discusses Common Currency as Reports of Gold-Backed BRICS Currency Gain Attention
Author: btcethereumadmin
United States
Source: BTC Ethereum Crypto Currency Blog
Jul 09, 2023 01:20

BRICS Bank Official Discusses Common Currency as Reports of Gold-Backed BRICS Currency Gain Attention

The BRICS Bank’s vice president and chief financial officer has shed light on the economic bloc’s aspiration to develop a common BRICS currency. His remarks followed recent reports suggesting that Russia has confirmed the BRICS’ plan to introduce a gold-backed common currency, with an official announcement expected to be made during the forthcoming BRICS leaders’

The post BRICS Bank Official Discusses Common Currency as Reports of Gold-Backed BRICS Currency Gain Attention appeared first on BTC Ethereum Crypto Currency Blog.

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Brazil’s President Reaffirms De-Dollarization Call — Discusses BRICS Expansion
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Aug 08, 2023 05:50

Brazil’s President Reaffirms De-Dollarization Call — Discusses BRICS Expansion

Brazil’s President Luiz Inacio Lula da Silva has reaffirmed his call to shift away from the U.S. dollar in global trade. He also revealed his stance on the expansion of the BRICS economic bloc ahead of the group’s upcoming summit. “I have said publicly, why does Brazil need the dollar to trade with China?” he [...]

The post Brazil’s President Reaffirms De-Dollarization Call — Discusses BRICS Expansion appeared first on Crypto Breaking News.

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Analyst Discusses US-BRICS Power Shift — Warns of Dollar Dominance Ending
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Aug 09, 2023 05:50

Analyst Discusses US-BRICS Power Shift — Warns of Dollar Dominance Ending

A think tank analyst says the U.S. dollar’s dominance may be coming to an end as countries position themselves for a new international system. “As the reliance on U.S. dollars diminishes, central banks will begin dumping their dollar reserves. This will result in hyperinflation, a spike in interest rates to compensate for the loss of [...]

The post Analyst Discusses US-BRICS Power Shift — Warns of Dollar Dominance Ending appeared first on Crypto Breaking News.

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Personal Finance Expert Says US Rating Downgrade Likely to Embolden BRICS Currency Supporters
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Aug 06, 2023 02:10

Personal Finance Expert Says US Rating Downgrade Likely to Embolden BRICS Currency Supporters

The American rating agency Fitch’s recent downgrade of the United States’ credit rating from AAA to AA+ may embolden proponents of a BRICS currency, Riley Adams, a personal finance expert, has said. Adams however argues that there are certain “geopolitical issues” that must be overcome first before the BRICS currency becomes a reality. Debt Ceiling [...]

The post Personal Finance Expert Says US Rating Downgrade Likely to Embolden BRICS Currency Supporters appeared first on Crypto Breaking News.

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Chinese Yuan, Euro, Digital Currencies Challenge US Dollar Dominance, TD Economist Says
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Jun 07, 2023 05:50

Chinese Yuan, Euro, Digital Currencies Challenge US Dollar Dominance, TD Economist Says

A senior economist at financial services firm TD says the Chinese yuan, the euro, and digital currencies could erode the U.S. dollar’s dominance. “Several countries have shown frustration with the dominance of the dollar and are pursuing alternatives for conducting international trade and cross-border banking,” he said. Long-Term Trend Is Away From US Dollar, Says [...]

The post Chinese Yuan, Euro, Digital Currencies Challenge US Dollar Dominance, TD Economist Says appeared first on Crypto Breaking News.

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Russia Says BRICS Currency Unlikely in Near Future but De-Dollarization Grows Globally
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Aug 04, 2023 05:50

Russia Says BRICS Currency Unlikely in Near Future but De-Dollarization Grows Globally

Russia says that a common BRICS currency is unlikely to be feasible in the near future but the process of de-dollarization of the global economy is inexorably underway. Russian Press Secretary Dmitry Peskov added that many countries, including those that do not face sanctions, are gravitating towards using national currencies in trade settlements. BRICS Currency [...]

The post Russia Says BRICS Currency Unlikely in Near Future but De-Dollarization Grows Globally appeared first on Crypto Breaking News.

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US Dollar Will Lose Dominant Status, China and India Could Play Key Role in Currency Shift, Says Economist Lord O’Neill
Author: btcethereumadmin
United States
Source: BTC Ethereum Crypto Currency Blog
Jun 03, 2023 01:20

US Dollar Will Lose Dominant Status, China and India Could Play Key Role in Currency Shift, Says Economist Lord O’Neill

Lord Jim O’Neill, the British economist credited with coining the acronym BRIC, has explained that the U.S. dollar will lose its dominant status. He expects the Chinese yuan and possibly the Indian rupee to become “much more important currencies for the world.” Lord Jim O’Neill on USD Losing Its Dominant Status British economist Lord Jim

The post US Dollar Will Lose Dominant Status, China and India Could Play Key Role in Currency Shift, Says Economist Lord O’Neill appeared first on BTC Ethereum Crypto Currency Blog.

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BRICS Nations Working on Creating New Currency to Be Discussed at Next Leaders Summit: Report
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Apr 02, 2023 05:50

BRICS Nations Working on Creating New Currency to Be Discussed at Next Leaders Summit: Report

The BRICS nations are reportedly working on developing a new form of currency, which is expected to be discussed at the next BRICS leaders’ summit, according to a top Russian official. “The transition to settlements in national currencies is the first step. The next one is to provide the circulation of digital or any other [...]

The post BRICS Nations Working on Creating New Currency to Be Discussed at Next Leaders Summit: Report appeared first on Crypto Breaking News.

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