President Vladimir Putin stated on Wednesday that the BRICS international locations – Brazil, Russia, India, China, and South Africa – are at present engaged on establishing a brand new international reserve forex.
“The difficulty of making a world reserve forex primarily based on a basket of currencies of our international locations is being labored out,” he stated on the BRICS enterprise discussion board.
In response to the Russian president, the member states are additionally creating dependable various mechanisms for worldwide funds.
Earlier, the group stated it was engaged on establishing a joint cost community to chop on the Western monetary system. The BRICS international locations have been additionally boosting the usage of native currencies in mutual commerce.
PM Modi to attend digital BRICS summit on Chinese language President’s invitation
PM Modi is all set to attend the annual summit of the BRICS immediately and tomorrow, just about, following an invite by Chinese language president XiJinping.
