Towards national currency usage in international transaction settlements: specific experiences in BRICS: the case of South Africa

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Ncwadi, R., Josie, J. & Siswana, B. (2017) Towards national currency usage in international transaction settlements: specific experiences in BRICS: the case of South Africa. In: Karataev, S., Troshin, N., Bazhenov, I. & Josie, J. (eds).Use of national currencies in international settlements: experience of the BRICS countries. Moscow: Russian Institute for Strategic Studies. 97-108. http://hdl.handle.net/20.500.11910/11739

http://hdl.handle.net/20.500.11910/11739
 
Abstract:
The breadth and depth of the national financial market is a necessary benchmark indicator of the ability of a currency to be utilized as a reserve currency. However, it is not a sufficient condition to achieve this status as other factors play an equally important role as was demonstrated in the final ascension of the Chinese renminbi to international reserve currency status in 2016 after many years of trying.
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05 Mar 2018
 
BRAZIL-RUSSIA-INDIA-CHINA-SOUTH AFRICA (BRICS)
SOUTH AFRICAN CURRENCY
MONETARY POLICY
 
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