BRICS Members Are Calling For The Creation Of Their Own Reserve Currency To Challenge The U.S. Dollar

FILE PHOTO: The current leaders of the BRICS group, pictured during an informal meeting at the G20 summit in Osaka, Japan, June 28, 2019 © Wikipedia  

Zero Hedge/Epoch Times: China And Russia Want To Replace US Dollar With BRICS Currencies 

BRICS members call for cross-border payment in BRICS currencies to challenge the U.S. dollar. 

The BRICS—an acronym for Brazil, Russia, India, China, and South Africa—held a summit on June 23. The meeting, chaired by Chinese leader Xi Jinping, was part of a lengthy series of BRICS cooperation events, which began on June 6 with the second finance ministers and central bank governors meeting and ended with the second meeting of the committee of senior energy officials on June 28. 

In his opening remarks, Xi stated, “We should also expand BRICS cooperation on cross-border payment and credit rating to facilitate trade, investment, and financing among our countries.”

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Update: Russia's Deputy Head Of Security Council Asserts BRICS Can Create Its Own Reserve Currency (Republic World)  

WNU Editor: BRICS members having their own reserve currency to conduct cross-border payments and financial transactions is going to happen. But it is going to take years before it can seriously challenge the US reserve currency status, and only if other countries like Saudi Arabia, Indonesia, etc., join the organization.