BRICS New Development Bank Prepares to Release Bonds in Local Currencies

BRICS bank to release bonds in local currencies BRICS, a bloc of leading emerging markets, is preparing to launch new bonds in global markets, which will be available in local currencies rather than in the US dollar. The BRICS bank, known as the New Development Bank (NDB), will soon release the bonds called ‘Maharaja Bonds’ worth $28 billion, IRNA reported on Sunday citing a press release by Watcher Guru, a website introducing itself as a leading source for finance focusing on cryptocurrency. Watcher Guru did not specify the exact date the bonds will be released but said that NDB Chief…