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That all said, a new BRICS currency faces major hurdles before becoming a reality. But what currency discussions do show is that the BRICS countries are seeking to U.S. President-elect Donald Trump has warned the BRICS countries that if they attempt to replace the “mighty U.S. dollar” they would face “100 percent tariffs and should BRASILIA (Reuters) - Brazil's BRICS presidency this year will not advance a common currency for the group of major developing economies this year, four government The BRICS Currency Initiative, aimed at reducing reliance on the US dollar and potentially creating an alternative reserve currency, faces significant hurdles that make it However, the soon-to-be-released BRICS currency is already facing hurdles a month before the scheduled summit in Johannesburg. The idea of the formation of a new currency now requires

BRICS Currency Faces Hurdles a Month Before Summit: Is a Dollar Alternative Possible?

The idea of the formation of a new currency now requires significant consideration, especially as the BRICS summit in Johannesburg approaches. However, the soon-to-be-released BRICS currency is already facing hurdles a month before the scheduled summit. The BRICS Currency Initiative, aimed at reducing reliance on the US dollar and potentially creating an alternative reserve currency, faces significant hurdles that make it a complex undertaking. That all said, a new BRICS currency faces major hurdles before becoming a reality. But what currency discussions do show is that the BRICS countries are seeking to diversify and establish stronger economic independence. While some speculate about its potential impact, it\'s crucial to understand the practical challenges. BRASILIA (Reuters) - Brazil\'s BRICS presidency this year will not advance a common currency for the group of major developing economies this year, four government sources confirm. This highlights the internal disagreements and logistical complications involved. U.S. President-elect Donald Trump has warned the BRICS countries that if they attempt to replace the “mighty U.S. dollar” they would face “100 percent tariffs," showcasing the potential geopolitical ramifications. The creation of a successful BRICS currency requires navigating these economic and political landscapes. Overcoming these hurdles is essential for the project\'s viability and long-term success.

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