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Dollar’s share in trade payments among BRICS countries down to one third — Lavrov

The dialogue on creation of the BRICS Pay system is moving forward progressively

RIO DE JANEIRO, April 29. /TASS/. Payments in national currencies in trade among BRICS countries total more than 65% and the dollar’s share dropped to one third, Russian Foreign Minister Sergey Lavrov said after the BRICS Foreign Ministers Meeting in Brazil.

"National currencies already account for more than 65% within the framework of trade among BRICS members. The dollar’s share declined to one third against such background," Lavrov said.

The dialogue on creation of the BRICS Pay system is moving forward progressively. "The meeting of BRICS finance ministers and central banks governors was held not long ago, where tasks of forming independent payment systems were reviewed in accordance with the assignment of the Kazan Summit. Our concluding document today notes the need to continue this work. It was assigned to proactively use national currencies in mutual trade," the minister added.

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Foreign policy Sergey Lavrov BRICS

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