Bank Indonesia promotes local currency use among BRICS nations
Bank Indonesia (BI) has called on BRICS member nations to deepen financial integration by accelerating local currency ...
BRICS nations are maintaining a cautious approach towards de-dollarisation, with current focus on enhancing cross-border payment systems and the use of local currencies. During the BRICS Finance Ministers' and Central Bank Governors' meeting, no reference was made to replacing the US dollar or establishing a shared currency. Instead, the grouping endorsed interoperable payment systems, local-currency settlements, and cooperative efforts based on individual national priorities.
The BRICS Payment Task Force is encouraged to research practical solutions to improve the speed, cost, transparency, and safety of cross-border payments.
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- BRICS treads carefully on de-dollarisation: Main focus on payments, not a common currency economictimes.indiatimes.com
- BRICS Keeps De-Dollarisation On A Cautious Track, Payments Take Priority Over Common Currency freepressjournal.in
