Auto Added by WPeMatico

BRICS Advances Toward Independent Digital Payment Platform, Russian Official Says

The BRICS economic bloc is progressing towards a digital payment platform, Russia’s Federation Council Speaker Valentina Matviyenko has revealed. The initiative, named BRICS Bridge, aims to establish an independent financial…

Continue ReadingBRICS Advances Toward Independent Digital Payment Platform, Russian Official Says

Iran Backs Russia on BRICS Single Currency Initiative

Iran plans to support Russia’s initiatives on creating a BRICS single currency and expanding national currency payments within the bloc, according to Iran’s Ambassador to Moscow, Kazem Jalali. The BRICS…

Continue ReadingIran Backs Russia on BRICS Single Currency Initiative

Ethiopia’s Birr Falls 30% After Currency Float; Forex Surrender Requirements Scrapped

Ethiopia’s birr plunged 30% against the dollar after the central bank floated the currency as part of reforms aimed at correcting foreign exchange market distortions. The bank also eliminated foreign…

Continue ReadingEthiopia’s Birr Falls 30% After Currency Float; Forex Surrender Requirements Scrapped

Russian State Duma Deputy Chairman: BRICS SWIFT Counterpart Needed for Creating a New Economic Reality

Alexander Babakov, Deputy Chairman of the Russian State Duma, highlighted the need to create a BRICS equivalent to the SWIFT messaging system, which routes payments alongside the current banking infrastructure.…

Continue ReadingRussian State Duma Deputy Chairman: BRICS SWIFT Counterpart Needed for Creating a New Economic Reality

BRICS Considers Iran’s Proposal to Link Payment Systems of All Member Countries, Says Russian Official

The BRICS economic bloc is considering Iran’s proposal to link all member nations’ payment systems, according to Russian Deputy Foreign Minister Andrey Rudenko. The proposal aims to enhance BRICS countries’…

Continue ReadingBRICS Considers Iran’s Proposal to Link Payment Systems of All Member Countries, Says Russian Official

Russian Senate Leader Predicts Use of CBDCs in BRICS Payment System

Valentina Matvienko, Chairman of the Russian Federation Council, talked about the role of national digital currencies, also known as CBDCs, in increasing the use of national currencies in BRICS trade.…

Continue ReadingRussian Senate Leader Predicts Use of CBDCs in BRICS Payment System