RT.com
23 Jun 2022, 04:13 GMT+10
It will be based on a currency basket of the five-nation bloc, according to the Russian president
President Vladimir Putin said on Wednesday that the BRICS countries - Brazil, Russia, India, China, and South Africa - are currently working on setting up a new global reserve currency.
"The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out," he said at the BRICS business forum.
According to the Russian president, the member states are also developing reliable alternative mechanisms for international payments.
Earlier, the group said it was working on setting up a joint payment network to cut reliance on the Western financial system. The BRICS countries have been also boosting the use of local currencies in mutual trade.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Tennis Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Tennis Times.
More InformationThe Denver Nuggets had to wait a week to learn who they will play in the franchise's first trip to ...
The New York Yankees provided Double-A Somerset with a load of talent on Tuesday as a trio of players reported ...
The Tennessee Titans announced a pair of transactions Tuesday -- the official signing of the team's latest first-round draft pick ...
The Detroit Tigers placed left-hander Eduardo Rodriguez on the 15-day injured list Tuesday with an index finger injury, while outfielder ...
The Milwaukee Brewers placed outfielder Jesse Winker on the injured list Tuesday with a cervical strain and recalled infielder Abraham ...
The Baltimore Orioles placed center fielder Cedric Mullins (groin) on the 10-day injured list Tuesday and replaced him on the ...
Kabul [Afghanistan], May 31 (ANI): India is strengthening its soft power in Afghanistan by providing critical aid through Iran, thereby ...
In New Brunswick, the issue of inclusion in schools is most recently in the spotlight due to calls to review ...
atlanta - Former first lady Rosalynn Carter has dementia and remains at home, her family has announced.Carter, 95, remains at ...
Quarterback Deshaun Watson made it crystal clear Tuesday that he'd love for the Cleveland Browns to sign his former teammate ...
New Delhi [India], May 30 (ANI): The Delhi High Court on Tuesday refused to grant any stay to the residents ...
WASHINGTON - The U.S. on Tuesday imposed sanctions on 17 people and entities based in China and Mexico who it ...