De-Dollarisation: Russian President Vladimir Putin visited India to strengthen ties and promote trade in local currencies. India, Russia, and China, key BRICS members, aim to reduce reliance on the US dollar. During Putin’s visit, discussions deepened cooperation in using local currencies for trade and exploring a potential common BRICS currency, supported by China. This push for a common alternative was evident at the 2024 BRICS Summit in Kazan, Russia, where Putin showcased a prototype of a shared currency. Nearly 89% of international currency trades involve the dollar, but de-dollarisation aims to minimize dependence globally.
De-Dollarisation Campaign: India, Russia, China Tighten Grip Against USD – Will The Currency Survive?
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