BRICS bank striving to reduce dependence on dollar – The Financial Times

The development bank set up by BRICS countries is planning to start lending in South African and Brazilian currencies as part of a plan to reduce reliance on the dollar and promote a more multipolar international financial system, according to its president. Former Brazilian leader Dilma Rousseff, who heads the New Development Bank, also said the Shanghai-based lender is considering applications for membership from about 15 countries and is likely to approve the entry of