BRICS members China and Russia spearheaded the initiative and are convincing other developing nations to ditch the US dollar.
Forbes released a new list of the top 10 strongest currencies in the world in 2024.
In no surprise, not a single currency from the existing BRICS countries made it to the list. The local currencies of BRICS countries are not strong enough and stand no chance in the global currency market.
However, the US dollar has ranked last in the Forbes list of 10 strongest global currencies in 2024.
The Kuwaiti Dinar takes first place while the Bahraini Dinar comes second. Omani Rial, Jordanian Dinar, and the Gibraltar Pound take the third, fourth, and fifth spots, respectively, watcher.guru reported.
In addition, the British Pound stands in sixth place while the Cayman Island Dollar comes seventh. The Swiss Franc, Euro, and the US dollar rank eighth, ninth, and 10th respectively.