Although the idea of establishing such an institution does not have a concrete action. But in the BRICS Summit Member countries have signed an agreement that allows financial institutions in member countries can serve as its own currency. And multilateral agreements on Service Agreement confirmation Letter of Confirmation on Credit Facility which allows Member countries to reduce reliance on BRICS pass wind, dollar. It also reduces the risk that may be caused by exchange rate fluctuations in the world markets and reduce trade costs. In addition, such an agreement can help in promoting trade and investment between Member countries as well. At the same time, the BRICS have issued Equity Index Benchmark derivatives of saronu, which will allow investors from one of the Member countries can invest in the securities markets of the other Member Nations without exchange rate risks.
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