A handful of Gulf countries are among the nations that are interested to accept the BRICS currency for global trade. Also Read: 22 Countries Formally Apply for BRICS MembershipThe Gulf countries currently settle remittances with the U.S. dollar but it may begin to accept the BRICS currency after its formation. In this article, we will highlight the risks the U.S. dollar face if the Gulf countries accept BRICS currency. BRICS: What Happens if Gulf Countries Accept the New Currency? If Gulf countries trade in BRICS currency, it would signal a shift from the traditional financial markets.

Source: Daily News Egypt July 23, 2023 14:44 UTC