Backed by gold and a basket of member currencies, the UNIT is designed to reduce reliance on the US dollar, but major hurdles remain.

By bnm Gulf bureau BRICS countries led by Russia and China appear to be mounting a direct challenge to US dollar dominance by rapidly accumulating gold reserves and building an independent trading ...

I am hearing the rumor again: the BRICS countries plan to launch a single currency to dethrone the US dollar as the world’s reserve currency. As CEO of LifeGoal Wealth Advisors and a CIMA and CFP, I ...

The U.S. dollar’s dominance as the world’s reserve currency faces its most organized challenge yet from the BRICS nations, but fundamental structural barriers make displacement unlikely in the ...