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South Africa hopes BRICS to switch to national currencies

November 09, 2011, 15:17 UTC+3
The diplomat did not rule out that one day BRICS may enlarge its membership
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MOSCOW, November 9 (Itar-Tass) — South Africa hopes that BRICS countries will switch to calculations in national currencies, the country’s ambassador to Russia, Mandisi Mpahlua, told a scientific conference at Moscow State Institute of International Relations (MGIMO-University) on Wednesday.

He underlined that the main question that the BRICS countries – Brazil, Russia, India, China and South Africa - are facing is what currency plays a dominating role in the world.

“Possibly, we (BRICS states) will manage to build relations on the basis of our national currencies and introduce new realities to institutions and systems that adapt to these realities,” he said.

The diplomat did not rule out that one day BRICS may enlarge its membership.

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