However

BRICS has formed a development bank in China called the New Development Bank. To have a BRICS currency, however, BRICS would need a central bank.

However, one economist suggests that the BRICS currency would greatly benefit from being pegged to the Chinese yuan. Specifically, Poenisch discussed the process

To navigate these differences, the BRICS currency could function as a supranational currency similar to the IMF’s Special Drawing Rights (SDRs) or be pegged to a

BRICS Currency: How It Could Work, Why It Likely Won’t, And

‘A Flawed Idea’: Why A BRICS Currency Is Overrated

BRICS Currency: Could it be Pegged to the Chinese Yuan?

I

Exploring the BRICS Alternative Currency - localandglobaleco.com

“I’m not very optimistic about a new BRICS currency, but I am relatively optimistic that sooner or later, the Chinese yuan will become convertible and start trading at

The BRICS R5 project: is it feasible? - Modern Diplomacy

Currency Peg Challenges

BRICS will not create a currency, but the yuan may become

Currency Peg Challenges: A unified BRICS currency would likely be pegged to China's monetary system, creating conflicts among diverse economies with different growth

BRICS and the Currency Wars - China Econ Group

Dollar Dominance: Chinese Yuan, BRICS Currency