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HomeLatest NewsBRICS bank starts lending to countries in local currency KXan 36 Daily...

BRICS bank starts lending to countries in local currency KXan 36 Daily News

Date: April 19, 2024 Time: 14:45:41

It is noted that the loan can be taken, for example, in South African rands, Brazilian reals, rupees and more.

“Our goal is to cover about 30% of all that we lend in local currency,” Rousseff said.

According to her, this will allow borrowers in member countries to avoid currency risk and interest rate fluctuations in the United States. She also highlighted that local currencies are not an alternative to the dollar, but rather to a system that until now has been unipolar and will be replaced by a multipolar one.

About 15 countries are now considering joining the financial institution, and probably 4 or 5 of them will be approved, says the chief (NDB). He did not specify the names of the countries.

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Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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