BRICS Country Rejects De-Dollarization, Embraces the US Dollar
In a new twist of events, BRICS member India has confirmed that it will not target the US dollar amid the de-dollarization agenda that has engulfed the global financial landscape. India made it clear that it has no plans to end reliance on the US dollar and will use the currency for trade and transactions where it remains a necessary form of payment. Also Read: BRICS: US Dollar Reserves Fall Below 60% For the First Time Since 1995 The development is a complete U-turn from the BRICS initiative where the alliance is pushing de-dollarization narratives around the world. Sources say that India is unhappy with the narrative pushed by its BRICS counterparts China and Russia. According to sources, India believes China is using BRICS as a stepping stone to strengthen its dominance around the world. Also Read: BRICS: A New World Order in Progress BRICS: India Rejects De-Dollarization, Will Use the US Dollar For Trade Source: Forbes / GettyImages The Foreign Minister of India, S. Jaishankar conf...