"Russia and India will start trade in domestic currencies within the next three years, said the Chairman of Russian Development Bank.
Vladimir Dmitriev, chief of Vnesheconombank, was speaking to reporters on the sidelines of the BRICS summit being held in New Delhi on Thursday. "With China it took us three years to (evolve) from initial conversations to trading in local currencies,” he said. "I think we will meet similar terms with India," he added.
These discussions are part of the initiatives taken up by member countries to improve financial cooperation among them. As part of this objective, BRICS countries will sign local currency lending deals for promoting trade and investment further among member nations."
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These discussions are part of the initiatives taken up by member countries to improve financial cooperation among them. As part of this objective, BRICS countries will sign local currency lending deals for promoting trade and investment further among member nations."
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