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Which currency will dominate BRICS grain trade by end of 2024?
5
Resolution / Starting Odds
Chinese Yuan • 33%
Russian Ruble • 33%
Indian Rupee • 34%
Trade statistics from BRICS countries, International economic reports
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BRICS Supports Russia's Grain Exchange Initiative with Non-Dollar Settlements
Jun 30, 2024, 03:30 AM
The BRICS countries have supported Russia's initiative to create a specialized grain exchange, which will operate with non-dollar settlements. This move is part of a broader effort to de-dollarize international trade among BRICS nations. Russia's agriculture minister, Oksana Lut, highlighted that BRICS countries produce 40% of the world's grain crops, 50% of fish, and 50% of dairy products.
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