world_organizations medium True/False

The BRICS New Development Bank (NDB) approves projects using the local currencies of member countries to reduce dependence on the US dollar and mitigate exchange rate risks.

  1. True
  2. False

Answer: True

NDB promotes local currency financing to enhance financial resilience among emerging economies. It has issued bonds in Chinese yuan, South African rand, and Indian rupees, and aims to increase local currency lending to reduce vulnerability to external shocks and dollar volatility.

Topic BRICS
Exam Relevance UPSC, Banking, SSC
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