BRIC Nations Pledge to Trade in Local Currencies

Filed under: India, China, Brazil, Russia, Currency

The key development stemming from the BRIC (Brazil, Russia, India, China) Summit? Arguably, it's the four's pledge to study ways to execute trade transactions in their local currencies, instead of the dollar.

The summit in Brazil's capital of Brazilia represented a gathering of nations likely to account for 60% of global GDP growth through 2014, Bloomberg News reported. It was the second annual gathering of the four BRIC nations.

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BRIC Nations Pledge to Trade in Local Currencies originally appeared on BloggingStocks on Fri, 16 Apr 2010 15:30:00 EST. Please see our terms for use of feeds.