US Keeps a Close Eye on BRICS Currency Developments, Says Indian Expert

The U.S. is closely monitoring BRICS’ efforts to reduce dollar reliance and explore a potential common currency, according to Indian expert Subhashish Banerjee.

While Russia and China strongly support dedollarization, India remains cautious, opposing a unified BRICS currency but encouraging trade in local currencies to lower costs and reduce dollar-linked volatility.

Russian BRICS sherpa Sergey Ryabkov clarified that the goal isn’t to abandon the dollar but to address the impact of U.S. policies. With its recent expansion to 10 members, including Egypt and the UAE, BRICS continues to push for financial sovereignty and reshape the global economic order.

Clever Robot News Desk 28th January 2025

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