New Currency BRICS has been in a development some time now and Saudi and Iran thinking of joining.


The BRICS countries - Brazil, Russia, India, China, and South Africa - have been working towards developing a new currency for quite some time now. In a Recent news there has been that Saudi and Iran might join as well.

The idea is to create an alternative to the U.S. dollar as a global reserve currency, and this could have significant consequences for the U.S. economy.

Currently, the U.S. dollar is the world's dominant currency, and it's used as a reserve currency by many countries around the world.

This means that countries hold U.S. dollars to store value and conduct international trade.

However, if the BRICS countries were to use their new currency as a reserve currency, it could reduce the demand for the U.S. dollar and lead to a decline in its value.

This could significantly impact the U.S. economy, as it could affect the country's ability to borrow and lend in international markets.

Developing a new currency by the BRICS countries could also have consequences for the Arab world, which relies heavily on the U.S. dollar as a reserve currency.

If the new currency gains traction and becomes widely adopted, it could provide an alternative to the U.S. dollar and reduce the Arab world's dependence. This could potentially lead to a decline in the value of their reserves and impact their ability to conduct international trade.

However, it's important to note that many Arab countries have been looking to diversify their currency holdings and reduce their dependence on the U.S. dollar in recent years. This is partly due to concerns about the stability of the U.S. dollar and the impact of U.S. sanctions on their economies. Some countries in the region, such as Saudi Arabia, have already taken steps to expand their use of other currencies, such as the euro and the Chinese yuan.

The development of a new currency by the BRICS countries could also have geopolitical implications for the Arab world. Some countries in the region have closer ties to the BRICS countries than they do to the United States, and a shift towards a new currency could potentially strengthen those ties.

However, this would depend on a variety of factors, including the success of the new currency, the willingness of Arab countries to adopt it, and the geopolitical dynamics in the region.

What are your thoughts on this? Is U.S Dollar influence about to change?

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