BRICS Currency Outlook: No Launch Yet, Focus on Local Currency Trade & BRICS Pay
Recent developments from the July 2025 BRICS Summit in Rio indicate no new unified currency or formal launch date was announced. Instead, BRICS nations reaffirmed their commitment to expanding trade in local currencies, and continued developing BRICS Pay, a cross-border payments system expected to pilot before the end of 2026. Despite talk of alternatives to the U.S. dollar and experimentation with gold-backed digital assets (notably in Russia), a BRICS-wide currency remains speculative and likely a long-term goal, if feasible at all.
Why It Matters
* Incremental change over revolution: Prioritizing local currency settlements reduces reliance on the dollar without destabilizing global finance
* BRICS Pay gains ground: A shared payment infrastructure is under development, signaling stronger financial integration
* Gold-backed pilots: Russia’s launch of a gold-linked digital asset highlights interest in more stable settlement forms
* No unified currency for now: Diverging economic systems, lack of legal frameworks, and skepticism from members like India mean a common currency is not imminent
#BRICSOversight #DeDollarization #BRICSPay #GoldDigitalAssets
