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BRICS summit

24 Aug 2023
As BRICS leaders meet in Johannesburg on Tuesday, they will be sure to discuss ways to increase commercial exchanges within the bloc of emerging economies comprised of Brazil, Russia, India, China and South Africa. The group, which represents 16% of global trade, will also look to encourage the use of local currencies in exchanges. However, the Brazilian idea of creating a common currency for the bloc appears to now be on the back burner.

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