What is the BRICS ‘UNIT’ – and could it really challenge the US dollar?

What is the BRICS ‘UNIT’ – and could it really challenge the US dollar?

Fabio Teixeira/Getty ImagesAt a major summit in Russia last year, a banknote was unveiled that carried more symbolism than monetary value. It hinted at the growing ambitions of BRICS+ – a group of emerging economies anchored by Brazil, Russia, India, China and South Africa – to develop alternatives to the existing global financial system. The banknote itself, ringed with national flags and multilingual text, was dubbed an R5: acknowledging the r…