3min chapter

Patrick Boyle On Finance cover image

Would a BRICS Common Currency Work?

Patrick Boyle On Finance

CHAPTER

Introduction

Last month it was announced that China and Brazil had signed an agreement on trade in mutual currencies. The strength of the US dollar over the last year has inspired a lot of hopeful thinking in emerging markets about reducing dependence on the US currency. Vladimir Putin announced last June that the BRICS were working on developing a new reserve currency for its member countries.

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