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BRICS can set up mechanism for trade in local currency: Rob Davies

Posted on 07 October 2013

Faced with currency volatility, BRICS, a grouping of major developing economies, including India, can work out a mechanism to settle trade in local currencies, South African Trade Minister Rob Davies has said.
“…in BRICS, we are discussing if we can actually structure our trade in a way based on the mechanisms…that settlement can be made based on the countries currency,” Davies said………………………………………..Full Article: Source


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