I raced to check the pulse of ordinary people on their opinion on BRICS currencies vs the US dollar. So I formed a group of 50 people online, comprising the…
Several ideas are being considered for the betterment of the BRICS payment system, and a new proposal includes using the digital clearing mechanism based on the local currencies of member…
Brazil’s President Luiz Lula da Silva made a speech on Monday pushing BRICS to trade in national currencies. “The US won’t like it at first; it’s obvious they can’t like…
The petrodollar is not collapsing, but BRICS nations and parts of Europe are increasingly settling trade using local and alternative currencies, particularly in energy and bilateral trade agreements. The de…
BRICS is hardly using the US dollar for trade, as the latest data from the VTB Bank shows that the bloc has settled 60% of cross-border transactions in local currencies.…
The Reserve Bank of India (RBI) proposed to link all BRICS nations’ central bank digital currencies (CBDCs) for trade this week. The proposal has immense weightage, as India hosts the…
Russia is considering selling pork exports to its BRICS counterpart China in local currencies, such as the ruble and Chinese yuan. The US dollar will be phased out in the…
India Russia trade in local currency has actually reached over 90%, and this development has catalyzed various major shifts in bilateral commerce. Russia’s First Deputy Prime Minister Denis Manturov confirmed…
Dilma Rousseff, the President of the New Development Bank (NDB), announced that BRICS will fund climate finance in local currencies. She explained that the bloc is focusing on environmental protection…
The New Development Bank (NDB), commonly called the BRICS bank, has approved loans for 120 projects worth nearly $40 billion. The loans were disbursed for key sectors such as clean…