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![The coin bearing the title "A Meeting of the BRICS Heads of State in Ufa", represents the growing clout of the group of five as they launch new financial institutions like the BRICS Bank and a $100 billion contingent reserve fund [Xinhua]](http://thebricspost.com/wp-content/uploads/2015/06/sberbank.jpg)
The coin bearing the title “A Meeting of the BRICS Heads of State in Ufa”, represents the growing clout of the group of five as they launch new financial institutions like the BRICS Bank and a $100 billion contingent reserve fund [Xinhua]
“These coins will be on sale at several commercial banks, primarily at Sberbank, in a few days,” Andrei Samorodov at the Central Bank’s press service said on Monday in Moscow. Sberbank is Russia’s largest bank.
The coin bearing the title “A Meeting of the BRICS Heads of State in Ufa”, represents the growing clout of the group of five as they launch new financial institutions like the BRICS Bank and a $100 billion contingent reserve fund.
The reverse side of the 39 mm coin will flaunt the official colour logo of Russia’s BRICS Presidency. The coin’s run will be limited to 1,500 and collectors are expected to snap many of them up.
The new ‘BRICS coin’, commemorating the BRICS Leaders Summit to be held next month, is part of Moscow’s attempts to highlight the unity of the bloc of five diverse economies.
The 3-rouble coins will be usable across Russia, the Russian Central Bank official said.
The BRIC countries — the world’s four largest emerging markets – had met as a group for the first time and held their inaugural summit in 2009 in Yekaterinburg, Russia. South Africa joined the group later in 2010.
The BRICS have hastened moves to take a greater say in world affairs and the global economy in response to the world financial crisis that emanated from the United States and slowing growth in the Eurozone.
TBP
