BRICs Currency Pool

Russia’s Putin Ratifies $100 Billion BRICs Currency Pool Deal

Russian President Vladimir Putin has ratified an agreement to establishment a $100 billion foreign currency reserve pool for the group of BRICs emerging economies, according to a document published Saturday on Russia’s official legal information site. On Wednesday the deal was ratified by Russia’s upper house of Parliament, the Federation Council. The currency pool, called the Contingent Reserve Arrangement … Continue reading →