India’s Central Bank Proposes Linking BRICS Digital Currencies, Sources Say

Source: UOL Economia | Original Published At: 2026-01-19 12:14:12 UTC

Key Points

• India's central bank suggests connecting BRICS countries' digital currencies to facilitate trade and tourism while reducing reliance on the US dollar.
• The proposal builds on a 2025 BRICS summit declaration promoting interoperability of payment systems among member states.
• US officials have expressed concerns about BRICS initiatives circumventing dollar-based financial systems, with former President Trump previously labeling BRICS as 'anti-American.'
• All five BRICS members are currently conducting pilot projects for their central bank digital currencies (CBDCs), though full implementation remains pending.