The Chinese Yuan is nearing a 15-year low after plummeting by more than 5 percent within the second quarter of 2023.
The BRICS alliance risks losing its credibility and could miss out on ushering in new members. 
Due to rising inflation, and a handful of other economic barriers, fiat currencies have consistently been at the receiving end of the bearish chaos.
Most recently, the Chinese Yuan has lost a significant portion of its value, despite being the main fiat currency in the country. The Chinese Yuan is now nearing a 15-year low.
The result of this issue stretches beyond China and into every other region and market that depends on the Chinese Yuan to carry out trading and investments. One such organization affected by the Yuan’s downfall is BRICS. BRICS, an acronym for Brazil, Russia, India, China, and South Africa, consists of a coalition of countries aiming to reduce their economic dependence on the United States and its USD currency.
The collapse of the Chinese Yuan is certain

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