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India breaks with BRICS: Triumph for the US dollar!
India praises US dollar, rejects BRICS currency; Modi government emphasizes stability over de-dollarization. Demands global consensus.
India breaks with BRICS: Triumph for the US dollar!
India relies on the dollar! In a dramatic shift that has shaken the BRICS alliance, the Indian government has chosen to remain loyal to the US dollar, dashing the dream of a common BRICS currency. Foreign Minister S. Jaishankar surprised the world with his clear message in London that India has no plans to abandon the US dollar as the reserve currency. “At the end of the day, the dollar is the source of international stability,” he declared firmly, as watcher.guru reports.
While Russia, China and Iran are determined to break the dollar's dominance, India is charting its own course. The BRICS bloc is showing cracks because not only India but also Brazil are planning to scrap the common currency plan. This disagreement could significantly delay the introduction of a BRICS currency and ensure the US dollar's illustrious role for even longer. Tensions within the alliance are inevitable as India moves towards US currency.