"brics-currency"

A common currency may not be the answer; BRICS can reduce dependence through local-currency trade, digital payments and diversified reserves

The Ministry of External Affairs clarified that there is no proposal for a common BRICS currency at present, though discussions on trade in local currencies continue. MEA official Sudhakar Dalela highlighted that local currency settlements can reduce transaction costs and complement global payment systems.

BRICS nations’ push to trade in local currencies reflects frustration with dollar dominance and signals a shift in the global monetary order

Trump’s threat to impose a 100% tariff on BRICS members should be treated as just a boastful rhetoric

Consensus remained elusive on a common BRICS currency as business leaders from the five-bloc nations debated the pivotal issue at a business forum on the periphery of a summit of the five-member bloc being hosted here by South Africa.