The North African nation has announced plans to use national currencies in trade within BRICS Egypt plans to negotiate a shift away from the US dollar toward national currencies for settling trade with other BRICS states, according to a statement released by the Ministry of Foreign Affairs earlier this week. Using national currencies will alleviate the rising costs of using foreign currencies as a result of high global inflation, the ministry said, citing Ragy El Etreby, the country’s newly appointed ambassador to BRICS, who also serves as assistant foreign minister for international and regional economic affairs.
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