The global economic landscape is ever-evolving and in recent years we have witnessed a growing interest in the establishment of a common currency among BRICS member nations—Brazil, Russia, India, China, and South Africa. BRIC was first established in the year 2006 with South Africa joining in 2010 to make it BRICS. Since then, the bloc has become an important platform for economic cooperation among emerging markets and developing countries. Beginning this year on 1st January 2024, BRICS admitted more countries to the Bloc—Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates - which are estimated to add a trillion-plus dollars to the overall BRICS GDP. It appears that this is a strategic approach to building the BRICS’s overall financial power.