Economist Alexis Habiyaremye from the University of Johannesburg believes that a common currency among BRICS nations could challenge the dominance of the U.S. dollar as a global reserve currency.

Habiyaremye argues that such a currency, if effectively used for trade transactions between BRICS countries, would alleviate the burden of financing the U.S. deficit that arises from the dollar's privileged position. He highlights that using a different currency would also enable BRICS countries to avoid the imposition of U.S. laws.

Habiyaremye suggests that the economic power of the BRICS nations, surpassing that of the G7 countries, and their potential to produce necessary commodities and products for international trade give the BRICS currency a real chance of becoming global. However, he notes that political will and increased trade among BRICS members are crucial for the viability of a common currency.

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