Jaishankar Makes Big Comment on BRICS Currency Plans Amid De-Dollarisation Push | Watch

India has made a big declaration amid speculation of a new BRICS currency. India's external affairs minister, S. Jaishankar, said there are no plans for a new BRICS currency and that the focus is on strengthening the national currency. The statement comes amid reports of new currency discussions at the BRICS Summit. However, this confirms that BRICS is considering alternatives to the dollar-dominated payment system. Some reports state that 41 countries, including Bangladesh, Egypt, Belarus, Iran, Saudi Arabia, and Indonesia, are even in favour of a separate BRICS currency. But BRICS is not keen on a currency as it could lead to problems in financial sectors. On the other hand, India wants the rupee to get stronger amid "de-dollarization."

#brics #india #russia #china #brazil #southafrica #bricssummit #bricscurrency #indianrupee #usdollar #dollardominance #globalpaymentsystem #trader

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[sreetmi]

BRICS is a fantastic group with developed and developing nations... This has all requisites to influence the globe in a longer run...

[NobitaNobi-utkv]

India is riding 2 boats between Russia and america

[Alvar-hdtz]

The free world must support a new trade currency to eliminate the dollar. Welcome BRICKS money 😂😂😂

[YejjuS]

If India got sanctioned then it will think about BRICS currency. The BRICS created to stop the Dollar hegemony, but now India is partnering with US, so now brick currency is out of question. This move stab in the back for BRICS country's

[cheeho]

True. Every country can and should use their own currency in BRICS trade. However if your trade deficit with another trading partner within BRICS is too much negative vis a vis your trading partner than it will request other BRICS country's currency. An example is Indian buys oil from Russia with the Chinese RMB because Russia has too much Rupees which they cannot use to buy Indian goods.

[stickwg]

Yesterday Modi was in the USA, today India refuses to create a common BRICS currency. Sometimes slaves leave their slaveholder, and sometimes they voluntarily remain to serve him forever..

[Peter-MH]

India will be ordered to do all trade in USD by their new colonial master!

[gj]

Keep this up, the ‘I’ in BRICS would be Indonesia.

[gopichalapathi]

This is what I was talking about.. brics is not gonna launch a new currency again ... they will create an alternative payment system for international trade which will complement our own currency but in a multipolar way..need to see how this system will work

[italiankiller]

Just like i said in the past. None of them gonna say no to the Dollar, because they all are together behind the closed doors.

[candacewilson]

*EVEN ZAINAB passed comments on Ayeshas young age and Ayesha started crying* 😭

[mr.g]

Like Euro the BRICS countries should have a common currency. I think India is dancing and is the most unreliable partner. Why he announces there is no common currency just before the meeting. I really don't trust Indian leaders? I think the West can easily influence them.

[wahwah]

India has already received billions of dollars when they were selling Russian oil to America on double of the amount, which is why they say they won't talk about the new currency. BRICS is gonna launch the Gold backed currency but will put India at an disadvantage because they already have alot of dollar notes from America through oil

[dominiqpowell]

IF THE BRICS ORGANIZATIONS IS TO BE A SEROIUS ENTITY, THEY WILL NEED A CURRENCY TO USE ALONGSIDE THEIR OWN CURRENCY.

[homayounshirazi]

Each country using their own currency as long as the two agree to that is a rational way to approach commerce. But ultimately there needs to be an alternative currency in case the volume of exchange between these two countries is lop-sided.

[gopalmeharwade]

BRICS has to be implemented sooner. Please do it Indian ministers.

[harriemeeuwis]

There's no need for a single currency to de- dollarize. And the differences between the Brics countries are to great for a single currency. But you can make financial agreements that in practice mean ( partial) de- dollarization. That will probably be the outcome.

[rakeshsinghprs]

Is this comment coming after Modi meet with Biden?

[bassikiinoussa]

Then other brics nations must move on

[skdey]

Hope this statement comes on the interest of our country, not US of (A).