by Karen Faulkner, Worthy News Correspondent
(Worthy News) – The annual BRICS Municipal Conference in Russia this October is expected to draw representatives from 126 nations with a view to possibly joining the bloc and leaving the US dollar for a new BRICS common currency.
BRICS is an intergovernmental, geopolitical bloc that has coordinated multilateral policies since 2009. Originally comprising Brazil, Russia, India, China and South Africa, the BRICS bloc now includes Argentina, Iran, Saudi Arabia Iran, Egypt, Ethiopia, and the United Arab Emirates as well.
Ahead of October’s annual summit, the Brazil’s President last month called for BRICS nations to create a common currency for trade and investment among themselves in order to reduce their susceptibility to US dollar exchange rate fluctuations, Reuters reported in August.
However, Reuters noted in its report last month, the dollar continues to dominate world trade. “De-dollarising would need countless exporters and importers, as well as borrowers, lenders and currency traders across the world, to independently decide to use other currencies,” Reuters said.
Nevertheless, the growing number of developing countries that are interested in joining BRICS and ending their dependence on the US dollar for trade may ultimately amount to a challenge to the US dollar’s hegemonic status.
Copyright 1999-2025 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
Latest News from Worthy News
U.S.-based singer and rap star Nicki Minaj brought her global profile to the United Nations on Tuesday to draw attention to the mass killings of Christians in Nigeria, Africa’s most populous nation, where more than 7,000 Christians were murdered in the first seven months of this year, according to the watchdog group Intersociety.
Saudi Crown Prince Mohammed bin Salman (MBS) used his first White House visit in seven years to deliver a blunt message: Riyadh is ready to join the Abraham Accords — but only if there is a real, irreversible path toward a two-state solution.
In one of the most lopsided votes in recent congressional history, the House of Representatives voted 427-1 on Tuesday to force the Department of Justice to release all unclassified documents related to the Jeffrey Epstein investigation. The Senate quickly followed suit, passing the measure by unanimous consent, sending the bill to President Donald Trump–who announced this week that he would sign it.
As the United Nations Security Council approved a U.S.-drafted resolution laying out a pathway toward a Palestinian state, new polling shows Israeli public opinion moving sharply in the opposite direction.
Martin Bosma of the anti-Islam Party for Freedom (PVV) has lost his bid for another term as speaker of the Dutch House of Representatives, in a vote signaling shifting parliamentary dynamics after last month’s election.
A visibly angry U.S. President Donald J. Trump said the broadcast license of U.S. broadcaster ABC should be “taken away” after one of its reporters confronted him over his ties to the late convicted sex offender Jeffrey Epstein — an exchange that played out with Saudi Crown Prince Mohammed bin Salman seated beside him in the Oval Office.
Palestinian attackers killed an Israeli man and wounded three others in a combined ramming-and-stabbing assault in Judea and Samaria (also known as the West Bank) on Tuesday, shortly after the United Nations Security Council endorsed U.S. President Donald J. Trump’s peace initiative for Gaza, Israeli officials said.