In a post on his social media account on Sunday, Assistant to Iranian Foreign Minister Rasoul Mousavi reacted to reports of the potential introduction of a new currency by the BRICS group of emerging economies by calling it "an amazing transformation is taking place in the international economy".
Mousavi, who also serves as Director General of West Asia at Iran's Ministry of Foreign Affairs said that the emergence of a gold-backed currency in BRICS will be beneficial to countries like Iran because of the vast gold resources they have.
Russia announced on Saturday that the BRICS group is scheduled to introduce a new gold-backed currency to challenge the hegemonic dominance of the US dollar.
BRICS stands for emerging economies of Brazil, Russia, India, China and South Africa.
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