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BTCC / BTCC Square / Global Cryptocurrency /
MEA Official Clarifies BRICS Currency Trade Is Not a De-Dollarization Move

MEA Official Clarifies BRICS Currency Trade Is Not a De-Dollarization Move

Author:
Global Cryptocurrency
Published:
2025-07-01 19:24:02
10
1
BTCCSquare news:

BRICS currency trade initiatives are designed to protect against geopolitical vulnerabilities rather than to challenge the dominance of the US dollar, according to Dammu Ravi, MEA Secretary (ER). The clarification underscores India's foreign exchange policy, which supports national currency trade as an alternative mechanism without seeking to replace the dollar.

Current practices among BRICS nations and bilateral agreements reflect a pragmatic approach to shielding economies from external shocks. Prime Minister Modi's participation in the upcoming BRICS Summit highlights India's commitment to these efforts.

|Square

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