Brics Currency Could It Be Pegged To The Chinese Yuan
To navigate these differences
BRICS has formed a development bank in China called the New Development Bank. To have a BRICS currency, however, BRICS would need a central bank.
BRICS and the Currency Wars - China Econ Group
To navigate these differences, the BRICS currency could function as a supranational currency similar to the IMF’s Special Drawing Rights (SDRs) or be pegged to a
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However, one economist suggests that the BRICS currency would greatly benefit from being pegged to the Chinese yuan. Specifically, Poenisch discussed the process
“I’m not very optimistic about a new BRICS currency, but I am relatively optimistic that sooner or later, the Chinese yuan will become convertible and start trading at
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BRICS will not create a currency, but the yuan may become
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BRICS Currency: Could it be Pegged to the Chinese Yuan?