India Proposes BRICS Digital Currency Linkage for Cross-Border Trade

Source: MarketScreener | Original Published At: 2026-01-19 05:37:51 UTC

Key Points

• India's RBI proposes linking BRICS CBDCs to facilitate cross-border trade and tourism payments during the 2026 summit.
• The initiative aims to reduce reliance on the U.S. dollar amid rising geopolitical tensions.
• Technical challenges include interoperability, governance rules, and managing trade imbalances through swap arrangements.
• All five original BRICS members are conducting CBDC pilot projects, though full launches remain pending.
• Previous BRICS attempts at local currency trade faced obstacles, including Russia's accumulation of unused Indian rupees.