5 states sign deal on using own currencies

SANYA (China), Apr 15: In a significant step towards enhanced economic cooperation, India, China, Russia, Brazil and South Africa yesterday signed an agreement that will enable them to provide credit to each other in local currencies and collaborate in capital markets and other financial services. The Agreement was signed by the designated banks of the five countries at a Summit of Brazil-Russia-India-China- South Africa (BRICS) here. - PTI