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
The Senate on Monday confirmed Oklahoma Republican Sen. Markwayne Mullin as the new Secretary of the Department of Homeland Security, handing President Donald Trump a key leadership change as the agency faces mounting scrutiny and political pressure. Mullin was approved in a 54–45 vote and is set to replace outgoing Secretary Kristi Noem at the end of the month.
Investigations continued Monday into the shooting of a Dutch police employee in the western Netherlands after he publicly criticized Iran’s Islamic rulers, in a case raising fresh concerns that Tehran’s crackdown on dissent is extending into Europe.
The U.S. Supreme Court is considering whether to strike down state laws allowing mail-in ballots to be received after Election Day.
Scores of Colombian soldiers were feared dead and dozens injured after a military transport plane crashed shortly after takeoff in the country’s remote southern Amazon region, officials said Monday, as Colombia’s defense minister urged prayers for those affected in the largely Catholic country.
Iran on Monday denied claims by U.S. President Donald J. Trump that Washington and Tehran were engaged in “good and productive conversations” toward a potential agreement that could bring “longtime peace” for Israel.
Two pilots were killed and at least a dozen people were injured, including nine who were hospitalized, after an Air Canada Express regional jet collided with a fire truck while landing at New York’s LaGuardia Airport, authorities confirmed Monday, in a crash that shut down one of the United States’ busiest aviation hubs.
Israel’s expanding military campaign inside Iran is now focusing on key pressure points within the regime’s internal control system—specifically targeting checkpoints and street-level enforcement units—in what analysts believe could open the door for a broader uprising against the Islamic government, according to an exclusive report by the Epoch Times.