@article{Pasionek_2020, title={Countries of BRICS group on Forex market}, volume={19}, url={https://apcz.umk.pl/EiP/article/view/EiP.2020.008}, DOI={10.12775/EiP.2020.008}, abstractNote={<p align="center">Motivation: The globalization process has deepened the links between economies in the global socio-economic system. It has resulted in the shift of economic power from high developed countries to economies that have entered the path of fast socio-economic development, especially emerging markets. The emerging economies’ dynamic economic growth empowers the reduction of the development gap in relation to high developed economies. In the context of emerging markets, the special importance is dedicated to so-called BRICS countries. The share of BRICS countries in total world production as well as in total global trade, increases. The huge population and the GDP growth per capita make these economies the important markets nowadays. The financial market, especially the foreign exchange market becomes more and more important in the world economy.</p><p align="center">Aim: The aim of the paper is to examine the participation of the BRICS countries in the global foreign exchange market. The paper assumes that the increase of the BRICS group importance on the global markets does not correspond with the increase in the importance of these economies currencies on the Forex market. The BRICS group’s turnover in global foreign exchange turnover will be examined. In addition, the share of these currencies in the segments of particular types of transactions will be examined.</p><p align="center">Results: The importance of the BRICS group in the global economy is growing. However, this growth is not accompanied by growth of interest in currencies of this group on Forex market. The share of transactions concluded with the use of currencies of BRICS group was only 5% in 2019. Whereas, total currency turnover of the BRICS group countries was only 3% in 2019. The share of BRICS countries in individual market segments can be considered stable, yet insignificant.</p>}, number={1}, journal={Ekonomia i Prawo. Economics and Law}, author={Pasionek, Jolanta}, year={2020}, month={Mar.}, pages={99–117} }