News Snapshot:
South Africa’s President Cyril Ramaphosa said “the issue of currency” would be “on the agenda” for the upcoming meeting of BRICS countries in August, which also includes Russia, India and China. The dominance of the dollar has gradually declined in recent decades as the role of the US in global trade has waned. The freezing of more than $US300 billion worth of Russian central bank assets last year sparked fresh calls among some of the world’s largest emerging economies to shift away from the US currency. At the turn of the century, the dollar accounted for more than 70 per...
