India’s RBI Proposes Digital Currency for BRICS Nations

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India’s central bank, the Reserve Bank of India (RBI), has put forward a bold plan to connect the digital currencies of BRICS nations to make international transactions smoother, faster, and less costly.

This proposal may become a major talking point at the 2026 BRICS summit, to be hosted by India later this year.

RBI Proposes Digital Currency for BRICS

According to reports, the RBI has suggested that BRICS countries, such as Brazil, Russia, India, China, and South Africa, work on linking their central bank digital currencies (CBDCs). 

The goal is to make cross-border payments faster, cheaper, and more efficient, which could help trade, tourism, remittances, and daily business payments by cutting costs and saving time.

The proposal comes at a time when global tensions are rising, and U.S. President Donald Trump has threatened to impose 500% tariffs on imports from countries like Brazil, India, and China over their trade with Russia. 

On top of it, this move could also help BRICS nations reduce their dependence on the U.S. dollar for international transactions.

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