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The de-dollarisation, the movement to reduce other countries' reliance on the greenback, among the emerging economies of the BRICS economic group is yet to reach a 'common currency' breakthrough. The de-dollarisation movement, however, is currently morphing into a growing number of countries ditching the dollar and choosing to trade in their own currencies instead.
But despite an official clarification, the Russian embassy in Kenya said in a tweet, "The BRICS countries are planning to introduce a new trading currency, which will be backed by gold."
The members of the BRICS bloc of major emerging economies have recently met to decide on adding new members and creating a common currency to challenge the United States dollar. The five nations [.]