South Africa clarified there are no plans to establish a BRICS currency, despite speculation and misreporting. Instead, discussions within the bloc focus on facilitating trade using members' national currencies. The statement followed US President-elect Donald Trump's threats of imposing 100% tariffs on BRICS countries that support alternatives to the US dollar. South Africa’s Department of International Relations and Cooperation (Dirco) dismissed claims of a new currency as inaccurate. Meanwhile, the South African rand weakened, aligning with trends in emerging markets. Continue here.
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