6Photo1Video© news.abplive.comNo proposal for BRICS currency as of now, local currency settlements remain focus
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New Delhi [India], September 12 (ANI): There is no proposal at present to introduce a common BRICS currency, while discussions on settling bilateral trade in local currencies will continue as a practical way to reduce transaction costs, Sudhakar Dalela, Secretary (Economic Relations) in the Ministry of External Affairs, said on Saturday.
“There is no proposal in the BRICS for a BRICS currency, as of now,” Dalela said while briefing the media after the 18th BRICS Summit in New Delhi.
His comments come as BRICS countries continue discussions on strengthening cross-border payments and reducing transaction costs in trade among member countries, without moving towards a common currency at present.
“ We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty US Dollar or, they…
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