Nick Hedley | Should SA buy into Putin’s idea for a BRICS reserve currency to replace the dollar? | Fin24

As sanctions over the horrific war in Ukraine start to bite, it’s no surprise that Vladimir Putin is pushing for an alternative global financial system. The question is whether it would benefit other BRICS nations too, asksRussian President Vladimir Putin says BRICS nations – Brazil, Russia, India, China and South Africa – might introduce a new reserve currency to reduce the world’s heavy reliance on the US dollar.

As sanctions over the horrific war in Ukraine start to bite, it’s no surprise that Putin is pushing for an alternative global financial system – one that usurps the US and strengthens Russia’s position. The question, then, is whether this would make sense for other BRICS nations as well.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

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