the introduction of a single currency in the BRICS is hardly possible in the near future – Kommersant
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Press Secretary of the President of Russia Dmitry Peskov said that the need to use national currencies in settlements is growing on a global scale. However, in his opinion, the introduction of a single currency in the BRICS, which includes Brazil, Russia, India, China, South Africa, and other associations is hardly feasible in the near future.
“Many countries gravitate towards the trajectory of using national currencies in mutual settlements. Naturally, expert discussions are underway about the possibility of its introduction within the framework of some integration processes. This is still a discussion process, it is clear that it will be extended in time, in the short term it is hardly feasible,” said Mr. Peskov.
According to Dmitry Peskov, the process of de-dollarization of the world economy “is moving inexorably.” “The use of national currencies is something that is already a reality. A reality that is growing on a global scale. And this practice is resorted to not only by countries that face sanctions restrictions, but also by those that do not,” Peskov added. According to him, countries that support the use of the national currency in settlements understand the benefits of this regime for foreign economic activity.
The day before, August 2, Brazilian President Luiz Inacio Lula da Silva once again called for the rejection of the dollar in international trade. He also stressed the need to create an alternative to the US currency, including for settlements between the members of the BRICS association.
The appearance of the BRICS countries’ own unit for trade settlements has been discussed for more than a year. Various options were considered, in particular, the adoption of the currency of one of the participating countries as the main one and even the creation of a single BRICS basket. Russian Foreign Minister Sergei Lavrov saidthat the initiative to create the BRICS currency will be discussed at the summit in South Africa, which will be held on August 22-24.
About whether it is possible to create a common currency for the countries participating in the organization – in the material “Kommersant FM” “BRICS has revised its currency forecast”.
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