![](https://i.imgur.com/CLvY2jA.png")
01-05-2023, 08:00 AM
by Lubomir Tassev
2 days ago
The Shanghai Cooperation Organization (SCO) is preparing to move away from the U.S. dollar and switch to settlements in the national currencies of its member states.
......
“The process is far from simple because, unfortunately, the dollar as a world reserve currency is too deeply embedded, including in national currency systems,” Logvinov remarked. To completely abandon the dollar, “there is still a lot to be done and quite a long way to go,” he elaborated.
......
The SCO, which was established in Shanghai in 2001 as a political, economic, and defense alliance, is the world’s largest regional organization, covering approximately 60% of the territory of Eurasia as well as 40% of the planet’s population.
......
Despite the planned departure from dollar settlements, the introduction of a single currency is not yet being considered by SCO members
......
Meanwhile, reports have unveiled that the BRICS group of leading emerging economies, of which China, Russia and India are also members, is working to create a new currency for cross-border payments, with intentions to discuss its development at the BRICS leaders’ summit in August.
https://news.bitcoin.com/worlds-largest-...urrencies/
2 days ago
The Shanghai Cooperation Organization (SCO) is preparing to move away from the U.S. dollar and switch to settlements in the national currencies of its member states.
......
“The process is far from simple because, unfortunately, the dollar as a world reserve currency is too deeply embedded, including in national currency systems,” Logvinov remarked. To completely abandon the dollar, “there is still a lot to be done and quite a long way to go,” he elaborated.
......
The SCO, which was established in Shanghai in 2001 as a political, economic, and defense alliance, is the world’s largest regional organization, covering approximately 60% of the territory of Eurasia as well as 40% of the planet’s population.
......
Despite the planned departure from dollar settlements, the introduction of a single currency is not yet being considered by SCO members
......
Meanwhile, reports have unveiled that the BRICS group of leading emerging economies, of which China, Russia and India are also members, is working to create a new currency for cross-border payments, with intentions to discuss its development at the BRICS leaders’ summit in August.
https://news.bitcoin.com/worlds-largest-...urrencies/
