On October 24, it became known about the presentation of the first symbolic banknote of the single BRICS currency in the denomination of 100 Brix. The Russian Ambassador to South Africa Ilya Rogachev presented this commemorative banknote to the UAE Ambassador Mahsh Said al-Hameli in Pretoria at a ceremony dedicated to the entry of the United Arab Emirates into the organization.
The design of the banknote, printed in Russia, reflects the international nature of the association: on the front side are the flags of the five founding countries of BRICS, and on the back are the symbols of the states planning to join the bloc.
Although the banknote is purely symbolic, it demonstrates the BRICS countries' desire to strengthen economic cooperation and create a single currency area. It is expected that the future BRICS currency will permit direct trade transactions between the participating countries without the need to convert into other currencies.
According to Sergey Reshetnyak, an expert at the North Caucasus Institute of the Russian Presidential Academy of National Economy and Public Administration, the real currency of BRICS could be created in digital format, unlike the traditional approach used to introduce the euro in the European Union.
This event was reported by the Iranian news agency Irna.
