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Local Currencies To Replace Dollar For 5 Countries’ Dealings

April 16th, 2011 04:14 admin Leave a comment Go to comments

The Almighty Buck

An anonymous reader writes “Brazil, Russia, India, China and South Africa — the BRICS group of fastest growing economies — signed an agreement to use their own currencies instead of the predominant US dollar in issuing credit or grants to each other. The world does need a new financial architecture, but the BRICS by themselves are unlikely to to be able to drive that change.”

Source: Local Currencies To Replace Dollar For 5 Countries’ Dealings

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