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BRICS Unit Faces Resistance as India and China Reject Common Currency

BRICS Unit Faces Resistance as India and China Reject Common Currency

Author:

Global Cryptocurrency

Published:

2026-01-14 12:49:01

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BTCCSquare news:

Divisions within the BRICS bloc are deepening as India and China resist adopting a single settlement currency, undermining collective de-dollarization efforts. New Delhi's External Affairs Minister explicitly stated abandoning the dollar contradicts India's economic policy, while Beijing prioritizes yuan internationalization. This impasse threatens to fracture the coalition's unified front against dollar hegemony.

At the IT-BT Round Table 2025, India's Commerce Minister Piyush Goyal solidified the country's opposition to the proposed BRICS Unit. The stance reflects broader concerns about monetary sovereignty and financial stability, with key members unwilling to sacrifice economic safeguards for geopolitical posturing. Such resistance may prolong dollar dominance in global trade settlements.

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