The two BRICS nations will now reportedly trade in their own currencies Beijing and Brasilia have signed an agreement on trade in mutual currencies, abandoning the US dollar as an intermediary, and are also planning to expand cooperation in the field of food and minerals. According to media reports, the deal will enable the two BRICS members to conduct their massive trade and financial transactions directly, exchanging renminbi for real and vice versa instead of using the greenback for settlements. “The expectation is that this will reduce costs... promote even greater bilateral trade and facilitate investment,” A
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