The Emergence of BRICS' Currency Diversification:

The global push for currency diversification has gained momentum since 2008, peaking in 2022. The upcoming BRICS Summit will address the heavy world reliance on the US dollar for trade and central bank reserves, seeking alternatives. While the US promotes the dollar’s primacy, history indicates no currency remains dominant forever. BRICS nations aim for financial system diversification, not dollar elimination. As part of this move, some countries, particularly those sanctioned by the US, have reduced their dollar reserves, often opting for gold. The goal is a balanced global monetary system.