VIRTUAL GOLD IN INTERSTATE SETTLEMENTS

This article analyzes the difficulties that arise when creating an interstate currency: determining the exchange rates of national currencies in relation to the new single currency, creating an effective financial clearing system and a system of mutual settlements between the participating countries, ensuring the stability of the new currency in conditions of global financial markets volatility, overcoming political disagreements between the participating countries and reaching consensus on basic issues of the new monetary system functioning, minimizing the risks of secondary sanctions from the USA and other Western countries, proof of need to develop a common international financial system related to national payment systems with the aim to create a single currency, a significant difference of potential BRICS participants economic level, that requires a transition period for integrating of each national payment system into a new single one. The purpose of the article is to theoretically substantiate the possibility of interstate financial settlements in national currencies by estimating the value of goods through the value of virtual and real gold. To find out the causal relationships between the value of goods and the value of real and virtual gold. To consider the future and prospects of virtual gold use, where the gold is seen as a trade relations guarantor of BRICS countries, being essentially independent states with high financial sovereignty