Brics Currency Could It Be Pegged To The Chinese Yuan

Last updated: June 9, 2025, 21:43

Brics Currency Could It Be Pegged To The Chinese Yuan

To navigate these differences

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

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

However

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

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

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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.

I

“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