The BRICS summit ended with no new currency and all 5 members issuing differing and contradictory commentary on de-dollarization

The BRICS summit wrapped up last Thursday with six new members but not a new currency.Gianluigi Guercia/Reuters

  • De-dollarization was a closely watched topic amid the BRICS summit last week.

  • But BRICS nations appear divided on the issue, as statements from the bloc’s leaders indicated.

  • The latest SWIFT data showed the USD was used for a record 46% of foreign exchange payments in July.

A group of major emerging economies wrapped up a summit in South Africa last Thursday by welcoming six new…

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