BRICS — which had five founding member countries: Brazil, Russia, India, China and South Africa — has now expanded to 10 member countries and 13 partner nations. Where a euro, yen or yuan could not take on the US dollar, a BRICS currency would certainly have the potential to. The advantages and challenges of a BRICS currencyA new currency indexed on a basket of BRICS national currencies should offer numerous advantages. Accordingly, the New Development Bank, an infrastructure development bank established by BRICS, has announced the creation of a BRICS currency known as the UNIT. The yuan may have been denied its due, but the real loss is to the new BRICS currency.

Source: The Edge Markets February 21, 2026 05:02 UTC