BRIC Nations Mull Currency Cooperation

To lessen their dependence on the US dollar, the BRIC nations--Brazil, Russia, India and China--plan to look into using their own currencies in bilateral trade and investment, reports the South China Morning Post.


Citing diplomats, the newspaper says leaders of the BRIC nations will also discuss measures to strengthen their currencies, including purchasing other BRIC currencies in the form of bonds and cash.


If a final agreement on currency cooperation is reached, BRIC ministers would start negotiations on currency swap arrangements to facilitate trade and investment, says the Post


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