This study investigates the links between exchange arrangements and economic performances of BRICS countries over the period from 1990 to 2017. The major findings are: (i) it would allow BRICS to diversify their foreign reserves as a way of managing the risk; (ii) if the BRICS use their national currency to trade and they yexperience a bright future as predicted, their currencies may become global; (iii) it is believed that the use of BRICS currencies would decrease transaction costs compared to the USD; (iv) this would also allow the BRICS to have a greater political power in international negotiations.
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Avazkhodjaev, S. and Usmonov, J.
"EXCHANGE RATE ARRANGEMENTS AND ECONOMIC PERFORMANCES OF BRICS,"
International Finance and Accounting: Vol. 2019
, Article 7.
Available at: https://uzjournals.edu.uz/interfinance/vol2019/iss2/7