MEA Official Says BRICS Currency Trade Isn’t De-Dollarisation Move
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币界网报道：The BRICS currency trade initiative is not aimed at de-dollarization, according to a senior Indian Ministry of External Affairs official. The official clarified that the move is intended to facilitate trade among BRICS nations using local currencies, not to challenge the dominance of the US dollar in global trade. The statement comes amid growing speculation about BRICS potentially creating a common currency to reduce reliance on the dollar. India has been actively promoting the use of local currencies in bilateral trade, particularly with Russia, following Western sanctions on Moscow. The official emphasized that BRICS remains focused on economic cooperation rather than currency competition.
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