New world currency to topple dollar
Tehran (KNA) - The use of the US dollar to put pressure on other countries will lead to the creation of an alternative world currency, costing the dollar its world currency status, a top Russian deputy told on Wednesday.
Anatoly Aksakov, who heads the Russian State Duma Financial Committee, said the dollar gained its "world currency" status in 1944 when, because of World War II, the national currencies of many countries were devalued while the dollar stayed stable. This resulted in more payments in dollars and its domination in international transactions.
"But today the US administration is doing everything for the creation of a new world currency," he said."
More and more countries are considering transactions in national currencies. Meanwhile, the BRICS countries, which Turkey seems to be interested in joining, are discussing the possibility of creating a new currency for payments within the BRICS," he said, referring to the bloc of Brazil, Russia, India, China, and South Africa.
The deputy said a BRICS currency would have good prospects, because the bloc possesses half of the world population, 30 percent of the world's industry, and 40 percent of the world's agriculture as well as the biggest natural resources deposits.
Source: PressTV