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BRICS Currency


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The BRICS countries (Brazil, Russia, India, China, and South Africa) are currently formulating a new Currency & Banking pact to improve long-term trade & stable economic growth amongst their countries.

China and India are the #1 and #2 consumers of Gold on the planet, and South Africa is the largest producer of Gold in the world.

It is speculated by some economists/analysts that Gold will likely form some type of role within the new unified BRICS banking system.




Experts to Meet on BRICS Development Bank ...


Aug 7/12 - More clarity on the establishment of a joint Brazil, Russia, India, China and South Africa- (BRICS) led development bank is expected after next week’s meeting of a panel of experts on the issue, South African ambassador to BRICS Dr Anil Sooklal said on Monday .......

Speaking at a South African Institute of International Affairs and University of Pretoria BRICS panel discussion, he said that a group of experts from the five countries were expected to meet in Rio de Janiero, Brazil, to outline the requirements of a bank and conceive a possible roadmap to its establishment .......

BRICS Countries account for over 40% of the global population and about 25% of the global gross domestic product .......

FULL ARTICLE ...





South Africa expects to launch BRICS bank next year: Report ...


June 11/12 - The South African government is pushing for the establishment of the BRICS bank amid the increased concern over the European debt crisis .......

If this bank could be established here in South Africa, it will also unlock many opportunities, including promoting the development of our infrastructure .......

South Africa is the only African membership in the BRICS .......

FULL ARTICLE ...





Gold imports to Mainland China rise 65% to record in April ...


June 5/12 - Gold imports by China's mainland from Hong Kong rose 65 percent to a record in April .......

Shipments totaled 103,644.5 kilograms in April from 62,913 kilograms in March .......

FULL ARTICLE ...





Chinese Q1 2012 Gold Demand Hits Record ...


May 17, 2012  - China for the second quarter in a row remains the world's top gold consumer .......

China remained the world's top gold consumer for the second quarter in a row, with its gold consumer demand up 10 percent to 255.2 tonnes, beating India's 207.6 tonnes .......

China's physical gold bars and coins demand rose 13 percent on the year to a quarterly record of 98.6 tonnes, while jewellery demand climbed 8 percent to 156.6 tonnes .......

FULL ARTICLE ...





BRICS Agree on Local Currency Pact ...


April 3/12 - The BRICS countries, who completed their fifth annual summit in Delhi last week, have agreed to provide credit facilities to each other in local currencies... permitting easier transactions and grants them freedom from having to use fully convertible currencies for trade .......

The rise of emerging countries has taken a huge step forward with these initiatives and brings home the importance of engaging in trade with the BRICS nations .......

Developing a BRICs strategy, and their cooperative agreements to further develop and share in their economic strengths will have major political and trade implications in shaping the world during the rest of this century .......

FULL ARTICLE ...






 

BRICS Gold Currency