Has BRICS Officially Abandoned De-Dollarization?
Photo: Watcher Guru
While Russia and China are sending mixed signals about the usage of the US dollar in cross-border transactions, BRICS member India is clear on its stance that it does not support de-dollarization but also emphasizes the need of putting local currencies ahead for trade. India is seen doing a balancing act between the West and the East, as it needs the support from both corners to lift its economy up. This juggling act is what kept BRICS from fully achieving the potential of de-dollarization it once aggressively pursued.
Source: Watcher Guru
