The future of Argentina's currency is in flux. Following the election results for the BRICS invitee, Argentina is now set to replace its peso with the US dollar. Indeed, incoming President Javier Milei did not mince words about his plans for the country’s currency. This drastic measure comes as In the wake of Argentina's decision to join the BRICS, the nation's local currency, the Peso, endures significant challenges against the US dollar. The Peso is on a downward spiral, prompting desperate measures to stabilize the economy.

But what does Argentina's potential dollarization mean in the context of its BRICS membership? The BRICS alliance, La alianza BRICS, formada por Brasil, Rusia, India, China y Sudáfrica, avanza en su plan de desdolarización en la cumbre de Rusia, con más de 40 países exploring alternatives to the dollar for international trade and finance, presents a seemingly contradictory landscape. How can Argentina align with BRICS' de-dollarization efforts while simultaneously adopting the US dollar as its national currency?

Some argue that Argentina's dollarization is a temporary solution born out of economic necessity, separate from its long-term engagement with BRICS. Others believe it could create friction within the bloc. Understanding BRICS. To In this article, I’ll expand on that initial answer and unpack whether BRICS can mount a meaningful challenge to the almighty American dollar. The key question remains: can Argentina navigate this complex situation and maintain its BRICS commitments while implementing a dollar-based economy?

The situation is complex and the long-term ramifications are still unfolding. Stay tuned for further analysis as Argentina's experiment with dollarization and its BRICS membership progress.