BRICS (Brazil, Russia, India, China, South Africa) has proposed ambitious financial reforms, including the creation of a common currency. The BRICS New Development Bank and regional development banks are seen as key players in promoting mutual trade and reducing reliance on the dollar.

Reserve Bank of India Governor Shaktikanta Das governor said no decision has been taken on the BRICS currency, which recently drew President-elect Donald Trump’s ire.

Governor Shaktikanta Das has announced that India is not pursuing a de-dollarization policy. He also emphasized that no concrete decisions have been made regarding the creation of a common BRICS currency.

There has been no decision by the so-called BRICS block about creating a common currency to reduce usage of the dollar, India’s central bank chief said.

According to news agency PTI, Jaishankar noted that he was unsure about the exact trigger for Trump's statement but reiterated India's consistent stance against de-dollarisation. He clarified that no proposal for a BRICS currency currently exists and ...

Jaishankar’s statement came a week after US President-elect Donald Trump demanded that BRICS nations, including India, Russia, and China, refrain from creating a new currency or endorsing any alternative to the US dollar.

India will not support the creation of a shared currency among the nine-nation BRICS group, analysts say, but is promoting transnational trade in its local currency

External Affairs Minister S Jaishankar on Saturday reacted to President-elect Donald Trump's threat to impose 100 per cent tariffs on BRICS nations, stating that India has "no interest" in weakening the US dollar.

Recently elected US President Donald Trump has threatened to impose tariffs if the BRICS creates a new currency. However, the countries of the organization are not at all interested in weakening the dollar,