Strong manufacturing and services data, rising oil prices, and hawkish signals from Federal Reserve officials have pushed the dollar higher amid weak risk appetite, experts say.
Denis Alipov said the bloc instead offers developing nations a stronger platform in global affairs.
Denis Alipov says the bloc offers developing nations a stronger voice in global affairs rather than a rejection of the dollar.
Gold rose 2.4% and silver gained 4.5% while Brent crude fell 2.8%, according to a report by Anadolu Agency.
Russian and Iranian presidents voiced objections to US currency dominance in the run-up to the BRICS summit in India, according to Al Jazeera.