Bangladesh to Join and Adopt BRICS Currency?

[Black_cats]

Bangladesh to Join and Adopt BRICS Currency?​

Michael Grullon
June 6, 2023

The potential expansion of the BRICS bloc has been at the forefront of global discourse. Moreover, as the annual summit is set to arrive in just a matter of months, those discussions will take on more importance. Alternatively, could the country of Bangladesh join and adopt the BRICS currency?

The Southeast Asian country has already taken steps that could be attributed to a nation interested in BRICS. Let’s look at what Bangladesh has done so far, and analyze the country potentially adopting BRICS currency if it joins BRICS+.

Will Bangladesh Join BRICS+ and Adopt BRICS Currency?​

Back in May, India and Bangladesh agreed to settle cross-border transactions with the Rupee and not the U.S. dollar. BRICS countries are also working to launch a new currency and end reliance on the USD.

Bangladesh has an active interest in ditching the US dollar and looking for alternatives. In April, Bangladesh paid a nuclear plant loan to Russia in the Chinese yuan. Moreover, the country decided to pay approximately $318 million worth of yuan for a loan payment, instead of USD.

Furthermore, Bangladesh is one of multiple Southeast countries looking to join BRICS. The country adopting a common BRICS Currency may be on the table as well. BRICS is set to meet again this August for the BRICS Summit in South Africa. There, expansion and BRICS currency will be up for discussion, with dozens of countries worldwide looking to join in and support de-dollarization. With its use of the Chinese Yuan already as well as its relationship with Russia and India, Bangladesh may be a frontrunner to be one of the first members of the new BRICS+.

https://watcher.guru/news/bangladesh-to-join-and-adopt-brics-currency

 

[El Sidd]

Sure.

As elections come more closer, Bangladesh will also be looking at the permanent UNSC membership.

Gheez man

 

[Tom-tom]

This is very viable for bdesh, presently or in a few yrs. Bdesh has already joined the pool of creditors of brics. Where it contributes to the collective pot, and members can get much safer lower rate loans.

 

[saif]

Bangladesh to Join and Adopt BRICS Currency?​

Michael Grullon
June 6, 2023

The potential expansion of the BRICS bloc has been at the forefront of global discourse. Moreover, as the annual summit is set to arrive in just a matter of months, those discussions will take on more importance. Alternatively, could the country of Bangladesh join and adopt the BRICS currency?

The Southeast Asian country has already taken steps that could be attributed to a nation interested in BRICS. Let’s look at what Bangladesh has done so far, and analyze the country potentially adopting BRICS currency if it joins BRICS+.

Will Bangladesh Join BRICS+ and Adopt BRICS Currency?​

Back in May, India and Bangladesh agreed to settle cross-border transactions with the Rupee and not the U.S. dollar. BRICS countries are also working to launch a new currency and end reliance on the USD.

Bangladesh has an active interest in ditching the US dollar and looking for alternatives. In April, Bangladesh paid a nuclear plant loan to Russia in the Chinese yuan. Moreover, the country decided to pay approximately $318 million worth of yuan for a loan payment, instead of USD.

Furthermore, Bangladesh is one of multiple Southeast countries looking to join BRICS. The country adopting a common BRICS Currency may be on the table as well. BRICS is set to meet again this August for the BRICS Summit in South Africa. There, expansion and BRICS currency will be up for discussion, with dozens of countries worldwide looking to join in and support de-dollarization. With its use of the Chinese Yuan already as well as its relationship with Russia and India, Bangladesh may be a frontrunner to be one of the first members of the new BRICS+.

https://watcher.guru/news/bangladesh-to-join-and-adopt-brics-currency

Almost 90% of our trade is with the USA and Europe. By keeping this fact in mind, we need to ponder how BRICS currency would help Bangladesh in reducing her dependence on dollar.

 

[Tom-tom]

Almost 90% of our trade is with the USA and Europe. By keeping this fact in mind, we need to ponder how BRICS currency would help Bangladesh in reducing her dependence on dollar.

In taking development loans from this collective pooling pot, brics development bank offer much better terms and possibly interest. Also much less international interference.

 

[bluesky]

Almost 90% of our trade is with the USA and Europe. By keeping this fact in mind, we need to ponder how BRICS currency would help Bangladesh in reducing her dependence on dollar.

We should be less concernrd. It is possible that BRICS will accept BD Taka as the main exchange currency while other non-BRICS countries would still be using that old currency called Dollar.

Considering her stupid character, it will not surprise me if Hasina declares her Taka hope . I hope, she will demand to include her facial picture on the notes.