1 / 2 Relevant items tagged with #NationalCurrencies

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BRICS Slashes US Dollar and Euro Transactions to Below 30%

[Oct 12 3:30 AM] BRICS nations are increasingly using national currencies, with 65% of transactions now conducted in local currencies, according to a Russian finance official. The U.S. dollar and euro account for less than 30% of payments among member states…

Payments in National Currencies Surge to 92% Among SCO Members

[Sep 1 2:30 AM] Payments in national currencies among Shanghai Cooperation Organization (SCO) members have reportedly increased from 40% in 2022 to 92%, signaling a move away from reliance on the U.S. dollar. Similar to the BRICS economic bloc, the SCO, which…

‘Historic’ BRICS Summit to Be Held Without Putin in Person

[Jul 20, 2023 1:30 PM] Russian President Vladimir Putin will not travel to Johannesburg for the BRICS summit in August, according to the office of his South African counterpart. Moscow will send Foreign Minister Sergey Lavrov instead, the Kremlin confirmed, emphasizing…

BRICS Nations to Encourage Use of Local Currencies in Trade

[Jun 2, 2023 7:30 PM] Countries in the BRICS bloc intend to encourage the use of local currencies in cross-border trade, their foreign ministers revealed. The top diplomats, who met in South Africa, also emphasized the importance of financial inclusion, welcoming new…