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Fact Check: BRICS Has Not Launched a Common Currency To Rival USD

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Following the recent BRICS Summit, an image of a supposed banknote is circulating widely online, with claims that it represents a new “BRICS currency” poised to challenge the dominance of the US dollar in global trade.

The post read: “BRICS is introducing a new currency for the world to use instead of the dollar. China & Russia together are taking on the biggest bully on the block: America.”

The above post can be seen here (archive). More such posts can be seen here and here.

FACT CHECK

NewsMobile fact-checked this viral claim and found it to be misleading.

Our investigation began with a keyword search on Google, leading to multiple reports indicating that during the 16th BRICS Summit in Kazan, Russia presented a symbolic BRICS banknote. Russian President Vladimir Putin highlighted the U.S. dollar’s role as a “weapon” but clarified that BRICS is not fully abandoning the dollar; instead, the bloc is exploring alternatives to address restricted access. (These reports can be seen here, here and here)

However, we found no credible reports or official statements from BRICS confirming the adoption of an official BRICS currency.

Meanwhile, India’s Press Information Bureau (PIB), the central government’s communication wing, also clarified that claims of a common BRICS currency are false.

In conclusion, the above findings establish that the viral claim about a new BRICS currency is misleading.


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