[BRICS] Launch of a New Currency Is a Threat to the U.S. Dollar.

If BRICS begins to settle trade in a new currency, the reliance on the U.S. dollar will automatically come to an end. BRICS is now an 11-member group with leading oil-producing countries at the helm of the bloc.

If developing countries start settling oil trade in the yet-to-be-released currency, the U.S. dollar will find it hard to fund its deficit. The West will be impacted as global trade is realigned.

The financial global order could be altered, tilting power from the West to the East. In conclusion, 2024 could make or break the U.S. dollar’s prospects with the launch of a new BRICS currency.

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