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BRICS countries hold talks on reserve currency – Russian diplomat

The BRICS countries are working on establishing a new reserve currency to serve their economic interests better, Ambassador at large of Russia’s Foreign Ministry Pavel Knyazev said.

It will be based on a basket of the currencies of the five-nation bloc, RT reported.

“The possibility and prospects of setting up a common single currency based on a basket of currencies of the BRICS countries are being discussed,” Knyazev said during a discussion about expanding BRICS and the Shanghai Cooperation Organization.

According to the diplomat, member states are “actively studying mechanisms” to exchange financial information to develop a reliable . . .

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