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
Archaeologists excavating biblical Shiloh say new discoveries may strengthen the case that they have uncovered ruins connected to the ancient Israelite Tabernacle — the sacred worship center where Scripture says the Ark of the Covenant once rested.
Russian drone developers and operators are openly framing their next major gathering around preparation for a possible war with NATO, raising fresh concerns across Europe as the Kremlin continues to deny any intention of attacking the alliance.
President Donald Trump announced that the Republican Party will hold its first-ever national midterm convention this September in Dallas, an unprecedented political gathering designed to energize conservatives, showcase the administration’s record, and build momentum before the 2026 congressional elections.
A new red heifer born in Israel’s Galilee region has reignited calls among Temple-focused rabbis, educators, and activists for a broader national movement to prepare the Jewish people for the restoration of Temple service in Jerusalem.
Ukraine’s war against Russia is entering a sharper and more economically painful phase, as Kyiv’s long-range drone campaign continues to hammer Russian oil infrastructure, triggering fuel shortages across parts of the country and placing growing political pressure on President Vladimir Putin.
A California judge has sentenced Loay Abdel Fattah Alnaji to one year in Ventura County Jail and two years of felony probation for the death of Paul Kessler, a 69-year-old Jewish-American man who died after a confrontation during dueling pro-Israel and pro-Palestinian demonstrations in Thousand Oaks in November 2023.
A Muslim mob attacked a Christian prayer house in the Hegarmanah Indah Housing Complex in West Java on June 24, demanding that the gathering place be closed and threatening to burn it down, according to local Christian accounts.