IMF currency basket should include BRICS national currencies -view

SANYA, April 13 (Itar-Tass) - The IMF's Special Drawing Rights' (SDRs)
currency basket should include national currencies of all BRICS countries,
Head of Russia's Vnesheconombank /VEB/ Vladimir Dmitriyev told the annual
meeting of the BRICS inter-banking union on Wednesday.
"It is clear, that the growth of the BRICS' economic might should
raise the roles of the national currencies in the international currency
system, both on the international and regional levels," he said. "As for
the global level, it would mostly refer to SDRs, which presently are the
IMF's monetary units of international reserve assets."
As for the regional level, BRICS central bans could follow suit
organising reserves in each other's national currencies, he added.
In February of the current year, the G-20 summit discussed higher role
for special drawing rights in trade and financial regulations, as well as
discussed an option to expand the currency basket, which rates the SDRs,
Dmitriyev said.
"In future, this new currency basket should include China's yuan,
Russia's rouble and national currencies of the other members of BRICS," he
said.
Dmitriyev draw attention of the audience to a peculiar fact, that
names of BRICS' all national currencies begin with an 'r' letter and
suggested calling the international currency of the group as '5R'.