Use of national currencies in international settlements: experience of the BRICS countries
OUTPUT TYPE: Monograph (Book)
PUBLICATION YEAR: 2017
TITLE EDITOR(S): S.Karataev, N.Troshin, I.Bazhenov, J.Josie
KEYWORDS: BRAZIL-RUSSIA-INDIA-CHINA-SOUTH AFRICA (BRICS), MONETARY POLICY
DEPARTMENT: Developmental, Capable and Ethical State (DCES)
Print: HSRC Library: shelf number 10205
HANDLE: 20.500.11910/11740
URI: http://hdl.handle.net/20.500.11910/11740
PUBLICATION YEAR: 2017
TITLE EDITOR(S): S.Karataev, N.Troshin, I.Bazhenov, J.Josie
KEYWORDS: BRAZIL-RUSSIA-INDIA-CHINA-SOUTH AFRICA (BRICS), MONETARY POLICY
DEPARTMENT: Developmental, Capable and Ethical State (DCES)
Print: HSRC Library: shelf number 10205
HANDLE: 20.500.11910/11740
URI: http://hdl.handle.net/20.500.11910/11740
If you would like to obtain a copy of this Research Output, please contact Hanlie Baudin at researchoutputs@hsrc.ac.za.
Abstract
Financial crises of the past decades revealed the instability of the modern international monetary system based on a single dominant currency. Increasing the role and turnover of national currencies in international economic transactions and payments would contribute to redressing the existing imbalance. BRICS countries' experience indicates that efficient currency internationalization can be reached by both forming a number of prerequisites and financial and economic policies pursued by the authorities. Strengthening the BRICS countries' collaboration and implementation of joint initiatives should help create favorable conditions for promoting a wider use of their currencies in international settlements.-
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