Wednesday 6 May 2026 Yen v Dollar


 Wednesday 6 May 2026

Yen v Dollar
The yen is being considered as a potential trading currency within the BRICS group as they explore alternatives to the U.S. dollar. Discussions are ongoing about using local currencies, including the yen, for trade settlements among BRICS nations.
Additionally, the BRICS Cross-Border Payment Initiative plans to use national currencies, which may include the yen, to facilitate trade. However, the yen is not currently the trading currency of any BRICS bank, and its role in the BRICS context is still developing.

Japan has not joined BRICS, which currently consists of Brazil, Russia, India, China, and South Africa, along with recent expansions including Egypt, Ethiopia, Iran, the UAE, and Indonesia as full members, and several countries as partner states

Despite viral claims and speculation online suggesting Japan might join BRICS due to trade tensions with the United States, these reports are disinformation and have no basis in official announcements .
The current members of BRICS are:
Brazil
China
India
Russia
South Africa
Egypt
Ethiopia
Iran
Saudi Arabia
United Arab Emirates
Indonesia (joined in January 2025).

Additionally, Vietnam has been recognized as a partner country in the BRICS+ framework.

#oil #BrentCrude #gdercoin #GDER #learntotrade #USDollar #BRICS #BricsAfrica #fertilizer #psychologyofmoney

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