BRICS needs common payment system, researcher tells RT ...News

Detaching bilateral trade from Western currencies could strengthen intra-member cooperation, according to Redge Nkosi Establishing a BRICS common currency is an ambitious long-term task, although a joint payment system for intra-member trade could easily be launched in the near term, according to Redge Nkosi, executive director and head of research at South African company Firstsource Money. Speaking to RT on the sidelines of the BRICS summit in South Africa, he pointed out that Russia has already developed its own payment system, China and India are doing the same, and that there’s also a payment system in Latin

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