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 <p>The BRICS alliance is looking to dethrone the US dollar by launching a new currency in the international markets. The development threatens the US dollar supremacy as BRICS aims to dominate the global financial sector with a new currency. As the currency wars heat up, BRICS is doing everything possible to take the driver’s seat putting the US dollar behind.</p>
 <p><strong>Also Read: <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a>: What Happens if Saudi Arabia Ditches US Dollar for Oil?</strong></p>
 <p>Nonetheless, <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> can challenge the USD even without launching a new currency, explains Joe Sullivan, a senior advisor at the Lindsey Group. The statement comes at a time when members are settling trade in local currencies and not the USD.</p>
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 <h2 class="wp-block-heading" id="h-brics-can-target-us-dollar-even-without-releasing-new-currency-explains-sullivan">BRICS Can Target US Dollar Even Without Releasing New Currency, Explains Sullivan</h2>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="577" src="https://cdn.thebittimes.com/images/2023/11/06/1dbdbc36ba46d248ef156b322bc525ac.webp" alt="brics oil and gas eye local currency us dollar usd currency" class="wp-image-117757" srcset="https://cdn.thebittimes.com/images/2023/11/06/1dbdbc36ba46d248ef156b322bc525ac.webp 1024w, https://cdn.thebittimes.com/images/2023/11/06/1dbdbc36ba46d248ef156b322bc525ac.webp 300w, https://cdn.thebittimes.com/images/2023/11/06/1dbdbc36ba46d248ef156b322bc525ac.webp 768w, https://cdn.thebittimes.com/images/2023/11/06/1dbdbc36ba46d248ef156b322bc525ac.webp 380w, https://cdn.thebittimes.com/images/2023/11/06/1dbdbc36ba46d248ef156b322bc525ac.webp 550w, https://cdn.thebittimes.com/images/2023/11/06/1dbdbc36ba46d248ef156b322bc525ac.webp 800w, https://cdn.thebittimes.com/images/2023/11/06/1dbdbc36ba46d248ef156b322bc525ac.webp 1160w, https://cdn.thebittimes.com/images/2023/11/06/1dbdbc36ba46d248ef156b322bc525ac.webp 1451w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: seekingalpha.com / Arseniy45
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 <p>Joe Sullivan explained that <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> don’t need to wait until a new currency is launched to challenge the USD. According to the analyst, if <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> creates a rule to settle payments in local currencies among member nations, the USD’s dominance will automatically come down and affect the American economy at large.</p>
 <p><strong>Also Read: BRICS: Africa to Ditch U.S. Dollar &amp; Embrace New Currency?</strong></p>
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 <p>“<a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> do not even necessarily need to have a shared trade currency to chip away at King Dollar’s domain. If <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> demanded that you pay each member in its own national currency in order to trade with any of them, the dollar’s role in the world economy would go down,” he wrote on the Foreign Policy website.</p>
 <p>Sullivan added that a variety of local currencies could gain prominence if the USD is brought down. Read here to know how many sectors in the US will be affected if BRICS completely stops using the dollar.</p>
 <p><strong>Also Read: BRICS: Argentina Ditches US Dollar For IMF Payment, Pays Chinese Yuan</strong></p>
 <p>In conclusion, the coming years will decide how <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> plays its cards to keep the US dollar from rising. The global order could tilt from the West to the East if developing countries decide to trade in local currencies.</p>
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<div class="cs-entry__tags">
 <ul>
  <li>BRICS</li>
  <li>BRICS Currency</li>
  <li>US DOLLAR</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/brics-can-dethrone-us-dollar-without-launching-new-currency-tbt69219.html">https://thebittimes.com/brics-can-dethrone-us-dollar-without-launching-new-currency-tbt69219.html</a></p>

BRICS Can Dethrone US Dollar Without Launching New Currency

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