India Dismisses BRICS Currency Project

• 6.12.2024, 19:19

Apparently, New Delhi fears Trump tariffs.

According to India's Central Bank Governor, the BRICS bloc has not decided to create a common currency to reduce the use of the dollar.

This has been reported by Bloomberg.

“The BRICS currency is an idea put forward by one of the members, which was discussed but no decision was taken,” Reserve Bank of India Governor Shaktikanta Das said.

He also added that the geographical distance of the countries should also be kept in mind, unlike the eurozone, which has geographical continuity.

These comments come after US President-elect Donald Trump recently warned the BRICS countries that he would require them to commit not to create a new currency as an alternative to the dollar, and repeated threats to impose 100% tariffs.