- Q. - Who Sign Forex Reserves Pool Pact ?
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Description Of This Question
The five major emerging national economies, known by the acronym BRICS, were a step closer to setting up a $100 billion pool of mutual reserves by signing an “operational agreement”. The pool would be drawn on by the central banks of Brazil, Russia, India, China and South Africa whenever they suffered a shortage of dollar liquidity, helping them maintain financial stability, Russia’s central bank said.The Bank of Russia in Moscow. The central banks of Brazil, Russia, India, China and South Africa have signed an operational pact to set up a pool of foreign exchange reserves.
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