Ahead of the August 2023 BRICS summit in South Africa, reports and commentators speculated that member countries might introduce a common currency backed by gold. The archived article contrasted those predictions with remarks from New Development Bank executive Leslie Maasdorp, who described a shared currency as a longer-term ambition rather than an immediate plan. BRICS members were exploring greater use of national currencies in trade, but the anticipated gold-backed currency announcement had not been confirmed. The debate reflected wider interest in alternatives to dollar-dominated international payments.
