The rise of digital currencies in BRICS nations is challenging the long-standing dominance of the US dollar. With countries like China and India developing their own central bank digital currencies (CBDCs), the global financial landscape is shifting. BRICS nations aim to reduce their dependence on the USD for international trade and settlements, potentially weakening its position as the world’s reserve currency. This article examines the strengths and weaknesses of BRICS digital currencies compared to the USD, exploring whether this new wave of digital finance could dethrone the dollar and reshape global economic power dynamics.
