Source: AP
Igor Kryuchkov, RIR
On 29 March, China intends to sign a memorandum in New Delhi with its Brazilian, Russian, Indian and South African BRICS counterparts to make national currency loans available within the bloc. This will reduce the influence exerted by the U.S. dollar in BRICS, while promoting use of the national currencies, primarily the yuan. Yet, for India and Russia, settlements with China in national currencies will only have political advantages in a few years time. READ MORE
