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India and China Diverge on BRICS De-Dollarization Strategy

India and China Diverge on BRICS De-Dollarization Strategy

Author:

Global Cryptocurrency

Published:

2025-12-05 12:39:01

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BTCCSquare news:

India has firmly rejected proposals for a common BRICS currency, prioritizing its economic ties with the United States and viewing the dollar as a pillar of financial stability. Foreign Minister S. Jaishankar explicitly stated India’s opposition to de-dollarization, emphasizing no plans for a unified BRICS currency. Meanwhile, China is aggressively internationalizing the renminbi through bilateral agreements and payment systems.

Rupee settlements with Russia and the UAE show modest progress in local currency trade, but BRICS remains fragmented on challenging dollar dominance. The bloc’s lack of cohesion underscores the complexities of reshaping global trade dynamics.

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