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India and Russia to Enhance Trade With Rupee-Ruble Payments

[Aug 16 11:20 AM] India and Russia are discussing ways to enhance bilateral trade by adopting payments in their national currencies and reducing non-tariff barriers. The talks aim to facilitate rupee-ruble trade and address trade imbalances, particularly as…

Local Currencies Are Not Alternatives to the Dollar but the System, BRICS Bank Chair Says

[Aug 23, 2023 1:30 PM] The development bank founded by the BRICS bloc of emerging economies aims to promote a multipolar financial system, its head, Dilma Rousseff, has indicated. As part of these efforts, the institution seeks to expand lending in local currencies…

BRICS Currencies to Have No Alternative, Former Russian President Medvedev Says

[Apr 27, 2023 3:30 AM] Fiat currencies of BRICS member states will have no alternative in the future, according to former President of Russia Dmitry Medvedev. Nations in the bloc need to think about their digital forms and a digital currency issued by the group as a…

Dollar to Play Lesser Role Due to Its Weaponization, Digital Currencies, Economist Jeffrey Sachs Says

[Apr 9, 2023 11:30 PM] Within the next decade, the U.S. dollar will play a much less dominant role than it is today, according to Jeffrey Sachs. The renowned economist listed a few factors for the diminishing status of the greenback such as its use as a political weapon…

India to Facilitate International Settlements in Rupees to Reduce Dependence on the US Dollar

[Apr 3, 2023 2:30 AM] The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this…

Digital Rupee Attracts 50,000 Users, India’s Central Bank Says

[Feb 12, 2023 7:30 AM] India’s central bank, the Reserve Bank of India (RBI), has announced that 50,000 users have adopted the nation’s central bank digital currency (CBDC), the digital rupee. In a press conference on Wednesday, RBI’s Deputy Governor Rabi Sankar stated…

Sberbank Analyst’s Editorial Delves Into the ‘Tremendous Potential’ of a BRICS Reserve Currency Fueling De-Dollarization

[Jan 7, 2023 1:30 PM] During the last month, Russia’s ruble has dropped 16.48% against the U.S. dollar as energy and commodity prices have slowed over the last few weeks. Russia’s central bank revealed two weeks ago that it is further distancing itself from U.S. dollar…