China, Russia and India aren't developing a dollar rival, top official says: 'There's no idea of a BRICS currency'
Foreign minister S. Jaishankar said that the five-member BRICS group – consisting of Brazil, Russia, India, China, and South Africa – isn't currently planning to develop a greenback substitute for trade and investments.
"On what we will discuss at the BRICS meeting, we'll have to see because there are many other issues – but there is no idea of a BRICS currency," he said, as shown by footage fromSince Russia invaded Ukraine in February 2022, both Beijing and Moscow have ramped up their efforts to promoteThat's because the dollar's dominance of trade is a huge source of economic strength for the US – for example, it enabled Washington...
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