BRICS Keeps De-Dollarisation Push Alive Despite No Common Currency Plan: Analysts

Source: South China Morning Post | Original Published At: 2026-09-14 14:00:05 UTC

Key Points

• BRICS leaders at the New Delhi summit pledged to strengthen cross-border payment links but made no move toward establishing a common currency.
• The 45-page leaders’ declaration said the BRICS Payment Task Force would continue working to make cross-border payments faster, lower-cost, more accessible, efficient, transparent and safe.
• Sudhakar Dalela, secretary of India’s Ministry of External Affairs, said there was currently no proposal within BRICS for a BRICS currency.
• Analysts said the lack of a common currency plan reflects a shift in de-dollarisation strategy rather than a retreat from the effort.
• The strategy is seen as focusing on practical infrastructure that allows BRICS members to reduce reliance on the US dollar.