What Does It Mean for the Dollar?

Both Argentina and Brazil are coming together to have a summit to introduce this new currency. I think they're going to call it a sur or south. And then they're Going to invite all the other Latin American countries. It's going to be the second or third biggest currency in the world. What does it mean for the dollar? Is the dollar losing its position as the base currency for the world? Also, how do you just set up a new currency? How do you do that? Who actually issues the currency? And is there a central bank? And do they set the EU, do they set interest rates and all that kind of stuff? And there's so much.