Explainer-What is a BRICS currency, and could one be adopted?

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By Rachel Savage JOHANNESBURG (Reuters) - Brazil's President called on Wednesday for the BRICS nations to create a common currency for trade and ...

P.E.I. cancer survivor inspires hundreds to run for sarcoma research | SaltWireJOHANNESBURG - Brazil's President called on Wednesday for the BRICS nations to create a common currency for trade and investment between each other, as a means of reducing their vulnerability to dollar exchange rate fluctuations.

Russian President Vladimir Putin said the gathering, which ha attended via videolink, would discuss switching trade between member countries away from the dollar to national currencies. "Importantly, you need a disciplining mechanism for the countries that fall out of line with it... Plus they will need a common central bank... where does it get located?"

Russia's sanctions-imposed exile from global financial systems last year also fuelled speculation that non-western allies would shift away from the dollar.

 

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