The BRICS bloc might have already overcome its dollar-dependence problem, as the volume of settlements in the national currencies of its member nations has already surpassed the USD-based exchanges. Using the U.S. dollar can lead to expenses that can be avoided when paying with other currencies, BRICS Deputy Chairman of the Chamber of Commerce and […]
Vietnam, the Philippines, and Brunei will join a QR payment system to settle cross-border payments using local currencies within the Association of Southeast Asian Nations (ASEAN) bloc. The network, already being used between Indonesia and Malaysia, aims to interconnect all ASEAN nations to reduce their dependence on the U.S. dollar. Vietnam, the Philippines, and Brunei […]
Russian Foreign Minister Sergey Lavrov has declared that the actions of the BRICS bloc, integrated by Brazil, Russia, India, China, and South Africa, are focused on reducing dependency on the economic system managed by the U.S. and its Western allies. He denied a possible unified currency for all BRICS countries at this juncture. Russian …