Joint research paper «Use of national currencies in international settlements. Experience of the BRICS countries»

We are glad to present you a joint research paper «Use of national currencies in international settlements. Experience of the BRICS countries».

Authors: Uallace Moreira Lima, Marcelo Xavier do Nascimento, Sergey Karataev, Nikolay Troshin, Pavel Zakharov, Natalya Gribova, Ivan Bazhenov, Shekhar Hari Kumar, Ila Patnaik, Liu Dongmin, Xiao Lisheng, Lu Ting, Xiong Aizong, Zhang Chi, Ronney Ncwadi, Jaya Josie, Babalwa Siswana

Publishing house: ………………………………. RISS

Pages: ……………………………………….. 114

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 effi cient currency internationalization can be reached by both forming a number of prerequisites and fi nancial 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.