India Ditches USD in BRICS Summit: Pushes for Global Rupee Payments Starting Next Week

BRICS nations brace for a seismic shift as India prepares to axe the dollar from its trade playbook.

The move? Demand rupee-denominated payments—starting immediately at next week’s high-stakes meeting.

Why now? The dollar’s hegemony faces another crack as emerging economies flip the script. No more begging for forex reserves—just direct settlement in local currencies. Take that, SWIFT.

But here’s the kicker: Wall Street won’t like it. When central banks start bypassing the greenback, someone’s bond market gets a haircut.

One cynical footnote: Maybe this time ‘de-dollarization’ won’t end like a crypto meme stock—all hype, no liquidity.

India Seeks to Push the Rupee Forward With BRICS Member Russia

The alliance seeks to deepen ties with member nations to safeguard their economies as Trump upends the FLOW of trade. India is aiming to leverage the growing discontent against the USD and centralize the rupee among BRICS members. There is a high possibility that Russia could agree to use the rupee for cross-border settlements as they are reducing its USD dependency.

India has previously made it clear that their motive is not de-dollarization, but it only wants to internationalize the rupee. The tariffs and trade wars are forcing BRICS members like India and Russia to abandon the USD for payment settlements. It could redraw the lines of cross-border transactions with new policies focused solely on local sentiments and profits.