Indian Foreign Secretary dismisses discussion of common currency for BRICS nations
– BRICS economic bloc focused on increasing trade in national currencies, not creating a common currency
– Indian Foreign Secretary explains that common currency discussions have prerequisites that haven’t been met
– India’s Minister of External Affairs also denies discussion of common currency
– BRICS summit in Johannesburg will not include talks of a shared currency, according to South African diplomat
– Some believe the proposed common BRICS currency could challenge the dominance of the U.S. dollar, while others are skeptical
Hot Take: The BRICS nations are not currently considering the creation of a common currency, according to Indian officials. While some believe that a shared currency could rival the U.S. dollar, others view the idea as ridiculous and embarrassing. The upcoming BRICS summit will not include discussions on a common currency, as the focus remains on increasing trade in national currencies.
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