07.10.2013 - BRICS can set up mechanism for trade in local currency: Rob Davies

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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