Russian central bank governor Elvira Nabiullina says the yuan’s share in Russia’s exports has increased from 0.4 to 34.5 per cent, replacing the US dollar and euro as its ‘primary’ currency for foreign economic activity.
  • ☂️-English
    -2•1 year ago

    BRICS is not about having a centralized hegemonic currency to replace the dollar, but about negotiating with the countries own currencies and skipping the dollar. This news is just that.

    Also the BRICS bank exists.

    • xorEnglish
      2•1 year ago

      They have a development bank, but that’s fundamentally very different to a central bank (more like the IMF and less ECB).

      The comment I was replying too was about a centralised brics currency, though.