BRICS Alliance to Launch New Digital Currency, Challenging Dollar and Euro
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BRICS alliance planning to launch new currency to challenge US dollar and Euro. Could launch as early as 2024.
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Germany considering creating a digital Euro to combat other currencies like the BRICS one.
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Over 150 countries working on central bank digital currencies (CBDCs). BRICS ahead of West in launching one.
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Not all of Europe agrees on need for a digital Euro. BRICS currency could launch before a digital Euro.
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If West doesn't counter BRICS currency, could be costly as BRICS may stop using dollar and Euro for trade.