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BRICS pool of conventional currency reserves can be tested in 2018 — Bank of Russia

March 20, 21:50 UTC+3 BUENOS AIRES

The pool agreement was signed on July 15, 2014 at the BRICS summit in Brazil

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BUENOS AIRES, March 20. /TASS/. The pool of BRICS conventional currency reserves can be tested this year, First Deputy Chairperson of the Bank of Russia Kseniya Yudaeva told reporters on Tuesday on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting.

"We are preparing for the first testing this year," the banker said.

The goal of the conventional currency reserves pool consists in mutual provision of money denominated in US dollars by central banks of BRICS countries in case of problems with dollar liquidity. The pool agreement was signed on July 15, 2014 at the BRICS summit in Brazil. The pool amounts to $100 bln, including $41 contributed by China, $18 bln by each of Russia, India and Brazil, and $5 bln by South Africa.

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