Path to BRICS’ own currency ‘not easy’ – diplomat ...News

Russia Today - Economy
Path to BRICS’ own currency ‘not easy’ – diplomat
source : Russia Today ( News ) () 43
A single unit of exchange will emerge but the process will take time, an official in Russia’s foreign ministry says BRICS nations are moving towards the establishment of a single currency but it’s a long and “difficult” process, the head of the department for economic cooperation at Russia’s Foreign Ministry, Dmitry Birichevsky, said on Thursday.    The group of emerging economies, which currently incorporates Brazil, Russia, India, China and South Africa, are evaluating ways to reduce their reliance on the US dollar and the euro, including alternative payment systems and trade in national currencies.    “A single

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