Day: February 4, 2020

BRICS and the Digital Money Project: Alternative to US$, New Wave in International Payment System?

In 2019 Russia, Brazil, India, China and South Africa were planning to issue their own digital money in order to reduce the share of payments in the US currency. BRICS countries are reducing the share of settlements in dollars. In Russia, over the past five years, the dollar`s share in foreign trade payments has decreased from 92% to 50%, and the ruble has increased from 3% to 14%.