India rejects a BRICS common-currency proposal and backs local-currency settlements
India reportedly ruled out a BRICS currency proposal while supporting trade settlements in members' local currencies. This describes a negotiating position rather than an implemented monetary arrangement.
By DoomRadar · Published on DoomRadar .
Why it matters
Greater use of local currencies could gradually reduce reliance on established international payment and reserve systems.
Related source links
These links were collected with this event. Recorded source dates may reflect when a link was found. Article publication dates are shown only when available from the source. Open the originals for their full context.
- Local Currency Trade: India rules out Brics currency proposal, backs local currency trade settlements ↗timesofindia.indiatimes.com · Recorded source date: Sep 12, 2026, 3:02 PM UTC
- BRICS currency proposal? MEA says 'no proposal as of now', local currency trade talks continue ↗ibtimes.co.in · Recorded source date: Sep 12, 2026, 7:16 PM UTC
- BRICS backs local currency transfers, flags 'indiscriminate' tariffs and sanctions ↗hindustantimes.com · Recorded source date: Sep 13, 2026, 2:46 AM UTC
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