Reports suggest that BRICS nations are considering launching a new currency banknote, potentially challenging the US dollar's dominance. EurAsia Daily reported that during the Kazan summit, Russian President Vladimir Putin was presented with a symbolic 'BRICS bill.' However, Elvira Nabiullina, head of Russia's Central Bank, disapproved of the idea. After the presentation, Putin shared the 'banknote' with other ministers, and Global Eye News posted photos of him unveiling the currency on X (formerly Twitter).

Additionally, reports indicate that the new note might be called "the unit." Earlier this month, The Jerusalem Post mentioned that the BRICS banknote would be "40% backed by gold and 60% backed by reserves in member currencies." So far, officials have not commented on these rumors.

Social media users shared photos of Putin with the banknote, with one person tweeting, "The unveiling of the BRICS currency is a pivotal move toward a more multipolar financial system, aiming to reduce the dollar’s influence and enhance economic sovereignty among member countries."

According to the Russian state-owned news agency Sputnik, the note "represents the collective efforts being made within the BRICS framework." The agency also noted that the flags of the founding BRICS nations—Russia, China, India, Brazil, and South Africa—are featured on the front of the note. Sputnik tweeted that a closed-door debate on creating a common BRICS currency took place during the summit.