Plans that jeopardise trade should be shelved
Amid all the hype about a Brics currency to dent the dollar’s dominance, our central bank has injected a welcome note of practicality and reminded us of our priorities.
Calls for emerging markets to reduce their reliance on the dollar have escalated since Russia invaded Ukraine, prompting the US to freeze hundreds of billions of dollars of Russian foreign exchange reserves...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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