this post was submitted on 02 Oct 2023
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Disinformation. BRICS and ASEAN are not ditching the dollar and definitely not this year. ASEAN agreed to promote local currencies and reduce reliance on the US dollar, not to ditch it.^1^ BRICS is definitely not ditching the dollar as well. There was no consensus in the BRICS summit. Brazil wanted a common BRICS currency, Russia, China and South Africa wanted to promote local currencies instead, and India is less enthusiastic about dethroning the dollar.^2^
Sources:
^1^ https://www.aseanbriefing.com/news/asean-finance-ministers-and-central-banks-consider-dropping-us-dollar-euro-and-yen-indonesia-calls-for-phasing-out-visa-and-mastercard/
^2^ https://markets.businessinsider.com/news/currencies/dedollarization-china-india-russia-leaders-brics-summit-yuan-rupee-2023-8 and https://www.reuters.com/markets/currencies/what-is-brics-currency-could-one-be-adopted-2023-08-23/
EDIT: forgot the footnote
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