2023 BRICS Summit | Countries plan to introduce new currency

The Brics summit gets underway in Sandton tomorrow and apart from representatives from the main members, Brazil, Russian, India, China, and of course South Africa, there are many other African countries who have expressed interest in joining this partnership. Brics represents 40 percent of the world’s population with India and China the world's two most populated countries. Could establishing a currency for the BRICS nations lessen our dependence on the US dollar and strengthen our economies? After all, we are now suffering with a weakened rand to dollar rate that means another fuel price hike is likely on the cards next month. Professor William Gumede of the Wits School of Governance has more. Courtesy of #DStv403

[ficky]

I am crying. Can you imagine how this can shift things up.. This is as close intention to a global stability. I hope my Country as eager as I am, can't wait for this to happen.

[graciousbarzir]

OMG!!!!Brics history changer and the future is brighter .We have been robbed from our own resources for many years

[skywater]

Incredible, we are witnessing history. We are finally pushing the continent of Africa as the leading economic powerhouse. I do feel bad for European nations but Africa deserves it, they’ve been so suffering for no reason for too long

[graciousbarzir]

Wow!! Africa is now deliberated from American slavery .America should know that all the wealth is from africa and Asia as well as india.Imagine that huge change that will improve the economy of Brics.I really appreciate and applaud BRICS for unpacking such brilliant ideas

[bellohadiza]

THE BRICS IS THE ANSWER, THE NEW HOPE AND THE NEW FUTURE AND THE ENDING OF THE WESTERN DOMINANCES HAPPENING FASTER THAN EXPECTED, SAID MAJORITY OF ANALYSTS AND ECONOMISTS, PERIOD .

[TheodoreAndor]

Ramaposa why are we paying fuel according to US oil prices? We are BRICS getting our oil far below the Western prices....please explain

[rohanroos]

somehow I feel like this will fail...HARD. I want it to work, I want our economy to flourish, I want our people to have easier lives, but I can't help having this BAD premonition

[alrent]

A new currency for the BRICS group will translate to No sanctions! Get that. Economies will grow IF you reduce corruption and bribery. Get that. Now go do. Take action!

[rachelndlovu]

We believe in developing countries that South Africa we be restored & transformed through tourism.

[kenson-real]

How can you remove the US dollar? most of the buyers are using US Dollar!

[RedPillApocalypse]

Lol Oppenheimer boy Mr. Moonshot Pact talks up digital DUMB dollars!

[iejwhpq]

When the dollar goes, everything else goes... including your shitcoin portfolio.
Be careful what you wish for people.

[vidadormer]

It is very urgent, our Rand has no value against the Dollar …and all the developing world have the same problem and all is getting poorer day by day ‼️🤷🏼‍♀️

[leeroysherratt]

The BricsRand, South Africa will take the fall, heavy as a brick.

[qudanyun]

if new currency is out, what would have impacted forex in the future

[Questioningu]

That's what we all need, to be honest, remove the Westen colonizers from Africa and everywhere else and focus on growing underprivileged economies.

[peterdenham]

IMO not sure how a BRICS currency will compete given that all BRICS currency are at all time lows currently?

[nelsonchinasamy]

It will be interesting to see the rise of a new trading currency. But everyone has to be in the game here, no more hidden dollars under matrasses. It is no use changing one currency to another unless there is a benefit. For starters our fuel price must come down.

[peaceleader]

How many currency companies does our human species ambitions needs..???

[christodebeer]

I'm all eyes and ears how Bric's will force the Anc into a direction they won't be able to refuse...they will hang themselves, if they do refuse...😅😅