Indian rupee in danger: BRICS defends itself against dollar horror!

Indian rupee in danger: BRICS defends itself against dollar horror!

In a dramatic move, India, a member of the BRICS alliance, is to throw millions of US dollars from its reserves into the market to stop the free fall of the Indian rupee! The value of the rupee crashed to a low of 84.13 last Tuesday, putting the Reserve Bank of India (RBI) on alert. How watcher.guru reports, the RBI is now pulling out all the stops so as not to fall below the magical mark of 84.15. Insiders report that the central bank is determined not to allow any further setbacks.

But India is not alone! Several BRICS countries are in the crossfire of criticism. They are accused of selling the dollar only to support domestic currencies. The fear is clear: If the US dollar continues to strengthen, import and export services are heading for catastrophe. A nightmare for the emerging BRICS economies, which are working hard to reduce their dependence on the dollar. The vision? A world without the dominance of the dollar giant! But the pressure is growing: Will other countries follow suit and also fully embrace de-dollarization? That remains to be seen as the currency carousel continues to spin.