The main thing that unites the BRICS is the desire to reduce dollar trading. Countries in the bloc are pushing for borrowing and trading in their own currencies, but a split from the dollar is not yet on the agenda, according to India’s energy minister.
Why is this important?
During this week’s BRICS meeting, attention focused on the accession of six new countries that will join the bloc from January 1, 2024. The creation of a new currency and the stimulation of trading in its own currency, to the detriment of the dollar, was also discussed.In the news: BRICS de-dollarization is not a priority for India.
- Referring to international payment systems that have relied on dollars for decades, India’s Energy Minister Hardeep Singh Puri acknowledged that splitting the dollar was “not that easy”. Puri underscores a simple reality: the number of transactions completed in rupees is too low to question the dominance of the dollar.
- “I want rupees
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