The creation of a single currency by the BRICS countries will put an end to the dollar's hegemony on world markets. Economist Vasily Koltashov, director of the Institute of the New Society, said this.

He noted that independent countries are gradually switching to the use of national currencies due to the instability of the US currency.

However, Koltashov pointed out that the dollar remains the world's reserve currency and there is no analogue to it at present. He is sure that if the BRICS countries create their own monetary unit, it could assume such a role. However, some members of the association have expressed reluctance to force the creation of the currency, despite the demand for it.

"As soon as a group of members of the BRICS club creates a new reserve currency that will have different forms, a currency that will be traded on the stock exchange, that will have a limit and defined tasks, for example with a gold reserve, then this currency will very quickly be in high demand on the world market," Koltashov said.