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The U.S. dollar is facing challenges, particularly from BRICS nations—Brazil, Russia, India, China, and South Africa. Russia advocates for a common BRICS currency and has proposed this for discussion at the upcoming BRICS summit in August. Some progress is already being made with trade settlements in national currencies, as seen in India's rupee-ruble agreement with Russia. However, Russia seeks more support from India and hopes for a similar stance from China. Key issues include whether China will accept a BRICS currency in light of its goal for the yuan to replace the U.S. dollar, and whether India will pursue economic integration with China given existing border tensions. These conflicting priorities present significant obstacles for BRICS.