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    HomeNewsWorldBRICS members sign deal to trade in own currencies

    BRICS members sign deal to trade in own currencies

    BRICS members China and Brazil agreed on Tuesday to use their own currencies in bilateral trade in a deal that will cover the equivalent of up to USD 30 billion in trade exchanges per year, for three years.

    March 26, 2013 / 18:12 IST

    BRICS members China and Brazil agreed on Tuesday to use their own currencies in bilateral trade in a deal that will cover the equivalent of up to USD 30 billion in trade exchanges per year, for three years.

    The accord was signed by the Chinese and Brazilian central bank governors and finance ministers in Durban, hours before the start of a summit in South Africa of the BRICS group of emerging powers.

    Also read:

    - BRICS summit eyes joint forex reserves pool, infra bank

    - Russian President Putin wants BRICS to tackle geopolitics

    first published: Mar 26, 2013 05:15 pm

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