BRICS Pay and the Future of Currency Exchange

This chapter explores the implications of the recent BRICS summit developments, particularly the introduction of BRICS Pay as a means to facilitate transactions among member nations. It examines the dynamics of the foreign exchange market, the role of banks as intermediaries, and the shift towards more transparent trading environments for precious metals. The conversation illustrates the tensions between traditional banking practices and emerging financial technologies, highlighting the strategic moves towards de-dollarization.