BRICS Currency Reserve Will Shake Up the Western Financial Order
BRICS is pulling every option up its sleeve to challenge the US dollar’s hegemony in the global financial order. From settling trade in local currencies to diversifying their central bank reserves with gold and advancing the de-dollarization agenda, they’ve been doing it all. The formation of a BRICS currency was also on the cards but the details of the development remain little known. Also Read: BRICS: Calls To Move Away From the US Dollar Is Growing However, veteran banker and Jio Financial Services Chairman KV Kamath shed light on the little-known yet powerful initiative. Kamath said during an interview with CNBC-TV18 that a BRICS currency reserve will soon shake up the Western financial world. He explained that the development could challenge the IMF and create a parallel global economy dampening the US hegemony. Also Read: BRICS: India Makes Huge Announcement on New Currency BRICS Currency Reserve to Challenge the US, IMF, & Western Allies Source: Cryptopolitian.com The...