BRICS summit in Rio: Bloc may push trade in local currencies (Times of India)

Ahead of the July 6–7 BRICS summit in Rio de Janeiro, senior diplomats from leading member nations said the grouping is likely to intensify efforts toward settling trade in national currencies, even as they ruled out any imminent move toward a unified BRICS currency.At a conference co-hosted by the Embassy of Brazil and Centre for Global India Insights (CGII) on Friday, Russian Ambassador Denis Alipov described BRICS as “a serious platform for discussing joint solutions to big challenges,” while reaffirming Moscow’s support for trade in local currencies.