Tag: BRICS de-dollarisation

What are the alternatives to SWIFT, and how are they faring? Explained

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What are the alternatives to SWIFT, and how are they faring? Explained

The story so far: The New Delhi Declaration that came out of the recent BRICS Summit in the national capital resolved to increase trade between member-countries and payments in national currencies. Days before the summit, a report by the news agency Reuters quoted sources as saying that at the event, India would push to link…

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BRICS treads carefully on de-dollarisation: Finance track talks payments, not a common currency

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BRICS treads carefully on de-dollarisation: Finance track talks payments, not a common currency

For a bloc that has spent years fuelling speculation about challenging the dollar’s dominance, the formal position enunciated in a joint statement after the meeting of Finance Ministers and central bank Governors of BRICS nations remains more cautious than the rhetoric of some of its members. There is no mention of a common BRICS currency…

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