BRICS countries analyze transition to digital currencies

Brazil, Russia, India, China and South Africa, countries that make up the BRICS group, prepare the way for a transition towards the use of digital currencies

The countries that make up the BRICS have discussed in their most recent meeting the use of digital currencies, as another alternative to dependence on the dollar.

Brazil, Russia, India, China and South Africa are the emerging economies that give life to the BRICS group.

On the subject, in his last meeting the president of the Russian Chamber of Commerce and Industry and Russian co-president of the BRICS Business Council, Sergei Katirin, stated: “Transactions in digital units are discussed in the finance working tables. “Russia has the digital ruble and the Chinese have the digital yuan.”

As is known, this group focuses on eliminating the use of the US dollar in their transactions, as a way to free themselves from the “hegemony” of the currency in their economies.

In connection with the possible use of digital currencies by the BRICS, the progress made in launching digital currencies in Brazil and India stands out.


Source: eluniversal

(Reference image source: Dmytro Demidko at Unsplash)

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