BRICS and EAC face hurdles as they seek single currency

As more nations seek to reshape the global economy by embracing de-dollarisation, new currencies are on the horizon. But regional and economic blocs, like BRICS and the East African Community, are facing hurdles as they push for the adoption of a single currency in order to reduce dollar exchange-rate fluctuations. Grace Kuria Kanja has the details.

[MySmallWorld.]

The world economy shouldn't depend on dollar at all.

[Suleimanticsz]

The world is changing, everyone wants freedom. This is ❤ly.

[darkdan]

The brics thing should work on creating a sovereign economy that isn't totally dependent on Western greed...

[khalidrashad-xuxe]

I had a fifty dollars bill and i sold it a few months ago 😅

The US government should continue printing dollars, preferably in rolls . Will come in handy in the next lockdown.

[RFKPeaceNIK]

No, No, No to single currency. Instead, accept the Currency of each tenure member of BRICS. Avoiding Chaos &Potential Fraud.

[farazkhan]

very good journalism. keep up the good work.

[--user-tkfzfcw--]

Colonize land
Colonize mind
Colonize economy

[scottmcewan]

Dollar isnt going anywhere soon. All of these countires combined = about 3% of the world's reserve currency. If they had any real reliability it would be significantly more. America is bad, but its still the best game in town by far.

[chi-jenyang]

Single currency will not work. Gold is the answer.

[noorshariff]

Kick the dollar out trade with bricks currency 🎉

[DevinWillSurvive]

What hurdles? Just do it!

Fck the dollar

[icraftcrafts]

in the 1970s the dollar was unpegged from the gold standard 'temporarily'. i suppose the temporary unpegging is coming to an end lol

[storytime_live]

The reason BRICS as an organisation will fail but not the individual countries because each of these countries have different agenda they can only agree on the need for de-dollarization but can never agree on how to go about with it

[amr]

They should make silverback or goldback currencies like the mints do here in the USA for collectors. That way the currency itself is "literally" attached to a precious metal.

[fisophia]

How to boycott dollar? 💵 Just imagine netanyahyu face on the toilet paper

[steveanajafi]

Hope the can come to a mutual understanding and cooperation!

[praveenspike]

Brics currency is multiple local currencies, it is not a single currency like euro. In a multi polar world no one gets a upper hand if the currency is diversified.

[sizla]

We need to coordinate a common monetary system but lord knows how the Western Imperialists are when others are

[Wiznuke]

all this talk on using local currencies BUT no video ever mentioned efforts to ensure that responsible management of their local currencies is greatest importance to ensure local currencies does not devalue due to over-supply etc.. its better to create a BRICs currency that is backed by gold standard i.e. currency is pegged to gold and a BRIC central bank to allow BRIC's currency to be exchanged for gold, this will give that level of confidence in that currency, only problem is the huge amount of gold needed....

[boonskyler]

Is it the name of currency or the block chain (transactions) issues. Just call it UC (unit of currency) that way it's not limited to country names that is doom to fail