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BRICS To Launch A Single Currency Similar To Euro ? - Politics - Nairaland

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BRICS To Launch A Single Currency Similar To Euro ? by coputa(m): 5:55pm On Mar 01
The BRICS alliance is looking to work on an alternative currency to take on the US dollar. The bloc is working out several options to end dependency on the US dollar and promote local currencies for global trade. The alliance is also convincing other developing countries to stop relying on the US dollar and promote local currencies.

Russia’s Minister of Finance Anton Siluanov said that BRICS members are looking at the possibility of a common unit of account and currency, similar to the Euro. Siluanov said that the currency could work as an alternative to the US dollar, and can be used to denote the cost of some commodities.

“This can be a unit of account for the BRICS member countries. Not a single currency like in the EU (Euro) but an alternative to the dollar. In which the cost of commodity deliveries can be denoted as well as benchmarks for some goods. So as not to depend on the single currency or an issuing center that issues banknotes in a no-one-knows-how manner,” he said.

The BRICS currency following the Euro’s path is currently only talks and no concrete decision has been made. The bloc of nations will meet at the next summit in October this year and have a common consensus. The upcoming 16th summit will take the alliance in a new direction with possible groundbreaking policies.

The policies could hamper the West and the US dollar, as they might give prominence to their currency. If the US dollar is used less on the global stage, America’s economy will be the hardest hit this decade.


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Re: BRICS To Launch A Single Currency Similar To Euro ? by Entprys(m): 6:05pm On Mar 01
We are following this same footstep in Nigeria soon.
Like Tinubu(action man) like Putin.

2 Likes

Re: BRICS To Launch A Single Currency Similar To Euro ? by muzically(m): 6:07pm On Mar 01
Good

1 Like

Re: BRICS To Launch A Single Currency Similar To Euro ? by coputa(m): 6:12pm On Mar 01
Entprys:
We are following this same footstep in Nigeria soon.

Like Tinubu(action man) like Putin.
Will they accept Nigeria into BRICS
Re: BRICS To Launch A Single Currency Similar To Euro ? by Entprys(m): 6:24pm On Mar 01
coputa:
Will they accept Nigeria into BRICS
One of the purpose of the planned Qatar visit.
From Dohar, he enter UAE and all he need do is drop signature

1 Like

Re: BRICS To Launch A Single Currency Similar To Euro ? by JagabanB: 7:45pm On Mar 01
coputa:
Will they accept Nigeria into BRICS
If the leader of Nigeria wants to be there, by next year, Nigeria will be there.
Re: BRICS To Launch A Single Currency Similar To Euro ? by infofta(m): 8:47pm On Mar 01
Dead on arrival
All the members except China are all exporters of Natural resources to Europe. They depend on Europe and US for their revenue.
Will Russia buy Iranian oil
Re: BRICS To Launch A Single Currency Similar To Euro ? by Cindypresh(f): 10:21pm On Mar 01
Entprys:
We are following this same footstep in Nigeria soon.

Like Tinubu(action man) like Putin.

When last you treat malaria??

It's very dangerous to health and it alters brain cells
Re: BRICS To Launch A Single Currency Similar To Euro ? by cutieme(m): 11:07am On Mar 02
coputa:

The BRICS alliance is looking to work on an alternative currency to take on the US dollar. The bloc is working out several options to end dependency on the US dollar and promote local currencies for global trade. The alliance is also convincing other developing countries to stop relying on the US dollar and promote local currencies.

Russia’s Minister of Finance Anton Siluanov said that BRICS members are looking at the possibility of a common unit of account and currency, similar to the Euro. Siluanov said that the currency could work as an alternative to the US dollar, and can be used to denote the cost of some commodities.

“This can be a unit of account for the BRICS member countries. Not a single currency like in the EU (Euro) but an alternative to the dollar. In which the cost of commodity deliveries can be denoted as well as benchmarks for some goods. So as not to depend on the single currency or an issuing center that issues banknotes in a no-one-knows-how manner,” he said.

The BRICS currency following the Euro’s path is currently only talks and no concrete decision has been made. The bloc of nations will meet at the next summit in October this year and have a common consensus. The upcoming 16th summit will take the alliance in a new direction with possible groundbreaking policies.

The policies could hamper the West and the US dollar, as they might give prominence to their currency. If the US dollar is used less on the global stage, America’s economy will be the hardest hit this decade.


Watcher Guru
© Copyright 2023 Watcher.Guru


Hi bro, good day,pls I just saw in your other post that you stayed and worked in Gambia for two years,pls can you tell me more about it,pls,I sent you msg here cos I was banned for no just reasons on travelled section so couldn't send you there
Re: BRICS To Launch A Single Currency Similar To Euro ? by coputa(m): 2:11pm On Mar 02
cutieme:

Hi bro, good day,pls I just saw in your other post that you stayed and worked in Gambia for two years,pls can you tell me more about it,pls,I sent you msg here cos I was banned for no just reasons on travelled section so couldn't send you there
Re: BRICS To Launch A Single Currency Similar To Euro ? by blancsn1: 2:50pm On Mar 02
This will be an awesome plan to end the global economic domination by the USA n it dollar

1 Like

Re: BRICS To Launch A Single Currency Similar To Euro ? by cutieme(m): 10:05pm On Mar 02
[quote author=coputa post=128739531][/quote]
You didn't write anything here bro
Re: BRICS To Launch A Single Currency Similar To Euro ? by swagana: 10:20pm On Mar 02
infofta:
Dead on arrival
All the members except China are all exporters of Natural resources to Europe. They depend on Europe and US for their revenue.
Will Russia buy Iranian oil

Will they stop selling or exporting their goods to Europe because of their economic union?
Did Europe stop doing business with the rest of world when they launched Euro currency?
Re: BRICS To Launch A Single Currency Similar To Euro ? by coputa(m): 7:19am On Mar 03
swagana:


Will they stop selling or exporting their goods to Europe because of their economic union?
Did Europe stop doing business with the rest of world when they launched Euro currency?
European countries were even using the dollar than euro in doing business with the rest of the world
Re: BRICS To Launch A Single Currency Similar To Euro ? by Chinkoalhaji34: 7:21am On Mar 03
BRICS alliances plan for alternative currency could shake up global trade and have major implications for the US dollar and economy a bold move indeed!

3 Likes

Re: BRICS To Launch A Single Currency Similar To Euro ? by swagana: 11:13am On Mar 03
coputa:
European countries were even using the dollar than euro in doing business with the rest of the world

Nations will trade with BRICS+ countries with their adopted currency no issues.
Re: BRICS To Launch A Single Currency Similar To Euro ? by coputa(m): 5:39pm On Mar 03
swagana:


Nations will trade with BRICS+ countries with their adopted currency no issues.
That's is when they are members of BRICS.I don't see any west African country being accepted into BRICS
Re: BRICS To Launch A Single Currency Similar To Euro ? by swagana: 6:11pm On Mar 03
coputa:
That's is when they are members of BRICS.I don't see any west African country being accepted into BRICS

Read again,I said BRICS+ nations I made mention of non member states.
Re: BRICS To Launch A Single Currency Similar To Euro ? by coputa(m): 6:22pm On Mar 03
swagana:


Read again,I said BRICS+ nations I made mention of non member states.
Their members now are insignificantly few
Re: BRICS To Launch A Single Currency Similar To Euro ? by swagana: 6:33pm On Mar 03
coputa:
Their members now are insignificantly few

They are the largest economic block on earth with 3 billion population and you said they are insignificant.You know nathing.
If they are trading among themselves with their adopted currency they will be fine.

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