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 1999-2026 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
Latest News from Worthy News
A series of unusually large market bets on falling oil prices — totaling an estimated $7 billion — is drawing growing scrutiny after the trades repeatedly occurred minutes before major Iran-related policy announcements by President Donald Trump, according to a Reuters analysis and market experts.
The Israeli military announced Sunday that it carried out a sweeping series of operations against the Iranian-backed terror organization Hezbollah in Southern Lebanon, striking more than 40 terror infrastructure sites and killing over 100 terrorists over the weekend.
More than 200 children were rescued and more than 350 child sex offenders arrested in one month in the latest Department of Justice targeted enforcement operation to find child sex abuse victims and arrest child sex predators.
A clandestine Israeli military outpost deep inside Iraq’s western desert reportedly played a critical role in Israel’s recent five-week air campaign against Iran, according to a Wall Street Journal exclusive citing U.S. officials and other sources familiar with the operation.
Presidents of Christian colleges and seminaries are raising concerns over a provision tucked inside President Donald Trump’s sweeping domestic policy package, the “One Big Beautiful Bill Act,” warning it could severely impact students preparing for ministry and religious vocations.
Satellite imagery appears to show a massive oil slick spreading off the coast of Iran’s strategically vital Kharg Island, raising fresh concerns over environmental damage and growing instability in the Persian Gulf amid ongoing regional tensions.
The Trump administration on Friday released the first batch of formerly classified government documents, videos, and photographs related to unidentified aerial phenomena (UAPs), opening decades of mysterious military and government reports to public scrutiny.