BRICS Currency Nears Launch, Aims to Challenge Dollar

Russian economist Sergey Glazyev announced the BRICS currency is nearly ready and needs political approval.

The BRICS currency aims to replace the US dollar as the global reserve currency.

Glazyev said the currency's software and tools are created, it just needs consent from BRICS countries.

If widely adopted, the BRICS currency could threaten demand for the US dollar.

The new currency may launch at the next BRICS summit in Russia, though no firm date is set.