The economist who coined the "BRIC" acronym said the currency idea seemed "crazy."
The bloc is helmed by the major emerging nations of Brazil, Russia, India, China, and South Africa.
It also appears that it's just Russia and Brazil that have really pushed for a BRICS common currency.
But even if a BRICS currency comes to pass, its use could be limited.
AdvertisementAdvertisementPrakash said a BRICS currency would be used in "very narrow and vertical settings, or for BRICS projects."
Persons:
—, Washington, Joseph Sullivan —, There's, Jim O'Neill, Goldman Sachs, O'Neill, Xi Jinping, Narendra Modi, Xi, didn't, Li Qiang, Liu Pengyu, Modi, Liu, there's, Abishur Prakash, it's, China hasn't, Palit, Prakash
Organizations:
Service, White House, Indian, Monetary Fund, China's, UN, China, Institute of South Asian Studies, National University of Singapore, Affairs Ministry
Locations:
China, India, Russia, Ukraine, Brazil, South Africa, Europe, Africa, Beijing, New Delhi, Johannesburg, China's Washington, DC, BRICS