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The BRICS alliance is going to get bigger and stronger as 24 new countries now prepare the join the bloc. The nations are looking to end reliance on the U.S. dollar and accept the new BRICS currency for cross-border transactions. The move adds pressure on the dollar and challenges its hegemony as the world’s reserve currency . Nonetheless, if BRICS expands to BRICS +, the dollar and other leading Western currencies like the Euro and Pound could decline. Also Read: After BRICS, 10 ASEAN Countries Ditch The U.S. Dollar Therefore, Western dominance could soon come to an end leading to a new financial order dominated by the East. Developing countries across Asia, Africa, and Latin America are coming together in pushing the de-dollarization efforts into reality. Also, the move could break the U.S. dollar’s global supremacy and destabilize the American economy. 25 Countries Prepare to Join BRICS Alliance Source: DIRCO/GovernmentZA) Two dozen countries are now preparing to...

BRICS currency has been a topic of hot debate over the past few months, with many arguing whether its De-dollarization mission will succeed or fail. The BRICS alliance plans on establishing a new currency for its nations to use, which will replace and hopefully overshadow the US Dollar. JUST IN: Bank of America says US dollar global dominance is not under threat and BRICS, Yuan & crypto are not alternatives. — Watcher.Guru (@WatcherGuru) May 4, 2023 However, Bank of America remains adamant that this will be a tough task– De-dollarization – for BRICS . Bank of America Securities says that the global dominance of the US dollar is not in any way under threat, due to there being “no other currency alternatives” available. The “USD” is “not about to lose its exorbitant privilege” as “no single alternative has appeared,” BofA said in the note authored by   Athanasios Vamvakidis, a foreign exchange strategist, and other analysts. Source: Alan Santos / PR / Wikipe...