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BRICS currency not on summit agenda, S. African official says
By Rachel Savage and Carien du Plessis
Reuters
Thursday, July 20, 2023
JOHANNESBURG, South Africa -- A BRICS currency will not be on the agenda of the bloc's summit in South Africa next month, but Brazil, Russia, India, China, and South Africa will continue to switch away from the U.S. dollar, South Africa's senior BRICS diplomat said today.
"There's never been talk of a BRICS currency. It's not on the agenda," Anil Sooklal, South Africa's ambassador at large for Asia and BRICS, told a media briefing. "What we have said and we continue to deepen is trading in local currencies and settlement in local currencies."
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Brazil's President Luiz Inacio Lula da Silva and Russian foreign minister Sergei Lavrov are among BRICS leaders who touted the idea of a common currency as the bloc aims to challenge the Western dominance of global finance amid Russia's sanctions-imposed exile after it invaded Ukraine last year.
This has pushed countries to find alternatives to the dollar, especially among non-U.S. allies. ...
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