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BRICS Focused on Expanding Use of Member Currencies Before Single Currency Launch

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The Wider Use of National Fiats of BRICS States to Precede Launch of Single Currency

The member states of the BRICS bloc are currently focused on expanding the use of their national currencies. The aim is to create a common currency in the medium to long term but at the moment experts at BRICS are working on deepening the ties between the economies and financial markets. Anil Sooklal, South Africa’s ambassador to the organization, confirmed that the establishment of a single currency for the group is not an immediate task in an interview with Russian media.

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