However

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

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

I

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

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

To navigate these differences

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.

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 and the Currency Wars - China Econ Group

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