The BRICS New Development Bank said it will issue local-currency bonds in South Africa and Brazil as it looks to raise funds in markets facing fresh currency volatility. The move reflects how tighter global financial conditions and shifting capital flows are reshaping borrowing costs for emerging economies.

By selling debt in local currencies, the bank aims to reduce exchange-rate risk for both lenders and borrowers. That approach can also help deepen domestic capital markets, especially in countries where governments and institutions want more financing options beyond dollar-denominated debt.

The plan comes as investors remain cautious about sovereign debt pressures and weaker currencies across several emerging markets. Rising uncertainty has made funding more expensive and increased the appeal of alternative financing tools that rely less on foreign-currency exposure.

The development bank, created by the BRICS bloc, has positioned itself as a source of financing for infrastructure and sustainable projects in emerging economies. Its latest bond strategy suggests it is trying to adapt to a more volatile global market while broadening access to capital in key member countries.