BRICS Common Currency Unlikely At Upcoming Meeting, Dollar Bulls Relieved

Dollar bulls could heave a sigh of relief as BRICS nations' plan to float a common currency may not come to fruition any time soon. GOLOVKIN/POOL/GETTY IMAGES 

Dollar bulls could heave a sigh of relief as BRICS nations’ plan to float a common currency may not come to fruition any time soon.

The BRICS, an acronym referring to Brazil, Russia, India, China and South Africa, are meeting in Johannesburg in August 22-24 and it was rumored that group of nations could launch the common currency at the event.