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Economy

RBI proposes linking BRICS' digital currencies, sources say

The Reserve Bank of India (RBI) has proposed that BRICS nations link their digital currencies to enhance cross-border trade and tourism payments, potentially decreasing reliance on the U. S. dollar. This proposal is set to be discussed at the upcoming 2026 BRICS summit, which India will host, as geopolitical tensions increase.

RBI proposes linking BRICS' digital currencies, sources say

Credit: Thehindu

Key Highlights

  • RBI's proposal aims to simplify cross-border payments among BRICS countries.
  • The proposal will be discussed at the 2026 BRICS summit in India.
  • Linking digital currencies could reduce reliance on the U. S. dollar.
  • The plan focuses on making central bank digital currencies (CBDCs) interoperable.
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Sources

  1. RBI proposes linking BRICS' digital currencies, sources say
  2. RBI proposes linking BRICS digital currencies to ease trade and reduce dollar reliance
  3. RBI proposes linking Brics digital currencies at 2026 summit to ease cross-border payments

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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