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Will a BRICS currency be on the agenda in South Africa?

REUTERS/Ueslei Marcelino/File Photo Purchase Licensing Rights JOHANNESBURG, July 20 (Reuters) - A BRICS currency will not be on the agenda of the bloc's summit in South Africa next month, but Brazil, Russia, India, China and South Africa will continue to switch away from the U.S. dollar, South Africa's senior BRICS diplomat said on Thursday.

When will BRICS currency be introduced?

Although the official announcement of the BRICS currency could be scheduled for the 15th BRICS Summit in 2023 (22 August - 24 August 2023), the timeline for implementation and widespread adoption remains uncertain.

Which BRICS nations have announced a new currency backed by gold?

BRICS Nations Flags On July 7, 2023, the Russian government reported through state-controlled RT News that the BRICS nations, comprising Brazil, Russia, India, China, and South Africa, have confirmed the introduction of a new tradable currency backed by gold.

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