The BRICS countries of Brazil, Russia, India, China and South Africa are preparing to introduce a new currency for ease of trade. It is also said that this new financial agreement will be discussed at the ‘BRICS’ annual conference in South Africa in August.
Russia has proposed the introduction of a new currency. Russia is facing an economic crisis with the imposition of economic sanctions on Russia by Western countries along with the Russian-Ukraine war. A new financial unit will be created accordingly. (Reuters)
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