De-dollarisation not on the table, says RBI Guv
3 months, 3 weeks ago

De-dollarisation not on the table, says RBI Guv

New Indian Express  

Reserve Bank Governor Shaktikanta Das has downplayed the punitive tariffs threatened by U.S. President-elect Donald Trump against BRICS nations if they move away from the dollar, stating that each punitive action would likely provoke counteractions from the affected countries. Trump had on November 30 asked for a commitment from BRICS countries that they would neither create a new currency nor back any other “to replace the mighty dollar or, they will face 100-percent tariffs, and should expect to say goodbye to selling into the US". “Though one of the members had pitched a separate currency for the BRICS grouping, no decision was taken,” Das added. Unlike the Eurozone, BRICS nations are spread all over and that a geographical continuity would have to be factored in before deciding on a separate currency for this multi-nation bloc, Das added.

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History of this topic

Jaishankar plays down de-dollarisation chatter, backs a global Indian rupee | Watch
3 weeks, 2 days ago

Jaishankar plays down de-dollarisation chatter, backs a global Indian rupee | Watch

Firstpost  

Amid threats from US President Donald Trump, External Affairs Minister S Jaishankar has refused any plan of de-dollarisation Amid threats from US President Donald Trump, External Affairs Minister S Jaishankar has downplayed talks around dedollarisation and has instead backed the internationalisation of the Indian rupee. In recent months, Trump has repeatedly threatened to impose 100 per cent tariffs on Brics …

BRICS vows ’won’t stop’ de-Dollarization efforts despite Donald Trump’s 100 % tariff warning
1 month ago

BRICS vows ’won’t stop’ de-Dollarization efforts despite Donald Trump’s 100 % tariff warning

Live Mint  

Brazil's President Lula da Silva has said that BRICS is committed to ending US Dollar dominance “no matter what”. The Brazil President was heard saying, "US President Donald Trump's threats of tariffs won't stop the group's determination to seek alternative platforms for payments between member countries." In January, US President Donald Trump had issued a stern warning to BRICS nations, …

Trump claims BRICS 'broke up' after tariff threat: Haven't heard from them lately
1 month, 1 week ago

Trump claims BRICS 'broke up' after tariff threat: Haven't heard from them lately

India Today  

US President Donald Trump claimed on Friday that the BRICS, which includes India, "broke up" after he threatened 150% tariffs for undermining the dollar. On February 13, US President Donald Trump threatened the BRICS nations that they could face 100 per cent tariffs from the United States "if they want to play games with the dollar." The US President had …

'Find another sucker nation': Trump threatens Brics with tariffs again. What's at stake for India?
1 month, 4 weeks ago

'Find another sucker nation': Trump threatens Brics with tariffs again. What's at stake for India?

Firstpost  

In recent years, Brics has become one of the most economically powerful groups. Two of its member states are among the top five largest economies in the world A week after assuming the presidency, US President Donald Trump reiterated his tariff threat to Brics nations, which comprises Brazil, Russia, India, China and South Africa along with other newly appointed countries. …

‘Say goodbye to America, find another s****r’: Trump threatens 100% tariffs on India, BRICS for ditching US dollar
1 month, 4 weeks ago

‘Say goodbye to America, find another s****r’: Trump threatens 100% tariffs on India, BRICS for ditching US dollar

Live Mint  

US President Donald Trump on Thursday cautioned BRICS nations against replacing the US dollar as the reserve currency, reiterating a threat of 100% tariffs he had made shortly after winning the November presidential elections. "We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency …

De-dollarisation not our policy or strategy: India after yet another Trump threat to BRICS
1 month, 4 weeks ago

De-dollarisation not our policy or strategy: India after yet another Trump threat to BRICS

New Indian Express  

NEW DELHI: India on Friday reaffirmed that de-dollarisation is neither its policy nor strategy, after President Donald Trump again warned BRICS countries against replacing the US dollar as a reserve currency, reiterating a threat of 100% tariffs he had made earlier. “On de-dollarisation, the External Affairs Minister has made it clear that we don’t have any policy or strategy in …

Trump threatens 'hostile' BRICS against replacing US dollar: Find another sucker
Top News
1 month, 4 weeks ago

Trump threatens 'hostile' BRICS against replacing US dollar: Find another sucker

India Today  

US President Donald Trump fired another warning shot at the BRICS bloc, of which India is a part, threatening to impose 100 per cent tariffs if they attempt to replace the US dollar with an alternative currency. "We are going to require a commitment from these seemingly hostile countries that they will neither create a new BRICS currency, nor back …

Donald Trump warns of 100% tariffs on BRICS & India: Here’s what US President said after inauguration
2 months, 1 week ago

Donald Trump warns of 100% tariffs on BRICS & India: Here’s what US President said after inauguration

Live Mint  

US President Donald Trump on January 20 reiterated to impose 100 per cent import tariffs on the BRICS countries if they took any steps towards cutting the use of the dollar in global trade. “If the BRICS nations want to do that, that's OK, but we're going to put at least a 100 per cent tariff on the business they …

Why Donald Trump should tame his love for tariffs
3 months, 2 weeks ago

Why Donald Trump should tame his love for tariffs

Firstpost  

It should be useful for the Trump administration to review the structural issues and excessive dependence on unilateral and punitive approaches that run counter to his own objectives of Making America Great Again in the short and medium term President Donald Trump loves tariffs, especially when he can unilaterally impose them as a dangling stick, hoping it might turn into …

On Trump's tariff threat, Jaishankar says India never for de-dollarisation
Top News
3 months, 3 weeks ago

On Trump's tariff threat, Jaishankar says India never for de-dollarisation

India Today  

External Affairs Minister S Jaishankar on Saturday responded to President-elect Donald Trump's threat to impose a 100 per cent tariff on Brics countries, saying that India has no intentions of weakening the US dollar. Jaishankar's remarks came a week after Donald Trump posted on his Truth Social platform, seeking a commitment from Brics nations that they would not create a …

‘India Never For De-Dollarisation, There’s No BRICS Currency Proposal’: Jaishankar After Trump’s Tariff Warning
Trending News
3 months, 3 weeks ago

‘India Never For De-Dollarisation, There’s No BRICS Currency Proposal’: Jaishankar After Trump’s Tariff Warning

ABP News  

External Affairs Minister S. Jaishankar on Saturday addressed remarks by Prime Minister Narendra Modi and U.S. President-elect Donald Trump, particularly focusing on Trump's recent warning to BRICS nations about imposing a 100 per cent tariff if they pursued a BRICS currency. EAM S Jaishankar Acknowledges Complexities Of Global Diplomacy Speaking at the Doha Forum, hosted by Qatar's Prime Minister and …

Jaishankar responds to claims of Brics undermining US dollar amid Trump's 100% tariff threat
3 months, 3 weeks ago

Jaishankar responds to claims of Brics undermining US dollar amid Trump's 100% tariff threat

Firstpost  

At a recent Brics summit in Kazan, Russia proposed “BRICS Pay,” a payment system akin to SWIFT and India’s Unified Payments Interface. The system aims to facilitate seamless cross-border payments in native currencies like the ruble, yuan, rupee, real, and rand Indian External Affairs Minister S Jaishankar said Brics bloc is not looking to create a rival to the US …

Grand Strategy: The temptation to de-dollarise
3 months, 3 weeks ago

Grand Strategy: The temptation to de-dollarise

Hindustan Times  

President-elect Donald Trump’s warning to the BRICS nations including India—demanding a commitment not to create a new BRICS currency or alternatives to the US dollar—is both provocative and a harbinger of challenges ahead. In a way, Indian responses to various de-dollarisation attempts - which could theoretically pave the way for a more multipolar world departing from the current US-led status …

India needs to be cautious on Trump threat of tariffs
3 months, 3 weeks ago

India needs to be cautious on Trump threat of tariffs

New Indian Express  

US president-elect Donald Trump’s latest beef about BRICS countries trying to create their own common currency to curb the dominance of the dollar is a typical Trumpian response to what looks like a non-issue. Trump has threatened the BRICS countries with 100 per cent duties on goods sold to the US by these countries if they go ahead with the …

Why is Donald Trump threatening Brics members against de-dollarisation?
Top News
3 months, 3 weeks ago

Why is Donald Trump threatening Brics members against de-dollarisation?

Firstpost  

Donald Trump has demanded that Brics members promise not to create a new currency or support another currency to replace the United States dollar as the world’s reserve currency. Trump has demanded that Brics member nations promise not to create a new currency or support another currency to replace the United States dollar. “We require a commitment from these countries …

Trump's 100 per cent tariff threat on BRICS: Need to see if US laws permits sanctions: Ex-RBI Guv
3 months, 3 weeks ago

Trump's 100 per cent tariff threat on BRICS: Need to see if US laws permits sanctions: Ex-RBI Guv

Deccan Chronicle  

Hyderabad: President-elect Donald Trump's warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US laws permits such an action, former RBI Governor Duvvuri Subbarao said on Monday. The nine-member group …

Trump’s 100 per cent tariff threat on BRICS: Need to see if US law permits sanctions: Ex-RBI Guv
3 months, 3 weeks ago

Trump’s 100 per cent tariff threat on BRICS: Need to see if US law permits sanctions: Ex-RBI Guv

Live Mint  

Hyderabad, President-elect Donald Trump’s warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US law permits such an action, former RBI Governor Duvvuri Subbarao said on Monday. The nine-member group …

Mint Quick Edit | De-dollarization: Trump should target crypto, not Brics
3 months, 4 weeks ago

Mint Quick Edit | De-dollarization: Trump should target crypto, not Brics

Live Mint  

India has stayed off US President-elect Donald Trump’s target range so far, but Brics was the focus of his latest finger-wag. On Saturday, he asked the group’s members to commit that “they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar", or else “they will face 100% Tariffs and should expect …

Trump’s threat of 100% tariffs unrealistic; India should focus on local currency trading:GTRI
3 months, 4 weeks ago

Trump’s threat of 100% tariffs unrealistic; India should focus on local currency trading:GTRI

Live Mint  

New Delhi, Dec 1 The warning of US President-elect Donald Trump to BRICS countries to impose 100 per cent customs duties if the BRICS group would replace the US dollar is unrealistic, and India should focus on developing a workable local currency trading system, think tank GTRI said on Sunday. "Trump's threat to impose 100 per cent tariffs on countries …

'Go find another sucker': Trump's message to BRICS members, which includes India
3 months, 4 weeks ago

'Go find another sucker': Trump's message to BRICS members, which includes India

Hindustan Times  

Donald Trump, the next president of the United States, said on Saturday that BRICS countries can ‘go find another sucker’ if they cannot commit that they will neither create a new currency of their own, nor back any other currency “to replace the mighty US Dollar”. US President-elect Donald Trump Formed in 2009, BRICS is an intergovernmental organisation comprising nine …

US President-elect Trump threatens BRICS nations with 100 per cent tariffs over plans to replace dollar
3 months, 4 weeks ago

US President-elect Trump threatens BRICS nations with 100 per cent tariffs over plans to replace dollar

New Indian Express  

NEW DELHI: U.S. President elect Donald Trump on Sunday said that BRICS countries trying to move away from dollar will face 100 per cent tariffs. We require a commitment from these countries that they will neither create a new BRICS Currency, nor back any other currency to replace the mighty U.S. Dollar or, they will face 100 per cent tariffs …

As Trump threatens 100% tariffs, where India stands on Brics currency vs dollar
3 months, 4 weeks ago

As Trump threatens 100% tariffs, where India stands on Brics currency vs dollar

India Today  

As Donald Trump returns to the White House in January 2025, his aggressive trade stance - the latest now being a 100 per cent tariff threat on Brics nations, including India, if they went ahead to develop their own currency to undermine the US dollar's dominance - has already created ripples in the global economy. Trump's 100 per cent tariff …

Trump threatens 100% tariff on multiple countries, including India, if they...
3 months, 4 weeks ago

Trump threatens 100% tariff on multiple countries, including India, if they...

Firstpost  

“We require a commitment from these Countries that they will neither create a new…Currency, nor back any other Currency to replace the mighty U.S. Dollar,” Trump wrote on Truth Social US President-elect Donald Trump has threatened to slap India, and other BRICS countries, with 100% tariffs. In a post on his social media platform Truth Social on Saturday, he wrote, …

Dollar hegemony prompts BRICS rethink
1 year, 7 months ago

Dollar hegemony prompts BRICS rethink

China Daily  

SHI YU/CHINA DAILY At the ongoing BRICS Summit in Johannesburg, a key topic that has attracted wide attention is the further development of new and complementary reserve currencies and settlement mechanisms. At the end of March, Alexander Babakov, deputy chairman of the Duma, the lower house of the Russian parliament, said the BRICS countries were working on creating a new …

Dollar hegemony prompts BRICS rethink
1 year, 7 months ago

Dollar hegemony prompts BRICS rethink

China Daily  

SHI YU/CHINA DAILY At the ongoing BRICS Summit in Johannesburg, a key topic that has attracted wide attention is the further development of new and complementary reserve currencies and settlement mechanisms. At the end of March, Alexander Babakov, deputy chairman of the Duma, the lower house of the Russian parliament, said the BRICS countries were working on creating a new …

Internationalize the rupee while a BRICS currency loses traction
1 year, 8 months ago

Internationalize the rupee while a BRICS currency loses traction

Live Mint  

The BRICS proposal is likely to stay a non-starter but India has opportunities of its own to pursue Earlier this month the Reserve Bank of India released a report on the rupee’s internationalization. The USD has been the world’s de facto reserve currency since 1944, first under its gold-exchange standard and since 1971 in the era of the floating exchange …

Why internationalising the rupee is fraught with challenges
1 year, 8 months ago

Why internationalising the rupee is fraught with challenges

India Today  

The Reserve Bank of India has once again brought to the fore the issue of internationalisation of the rupee, i.e. In July last year, the RBI had put in place a mechanism to settle international trade in rupees in order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of the …

Jaishankar Makes Big Comment on BRICS Currency Plans Amid De-Dollarisation Push | Watch
1 year, 8 months ago

Jaishankar Makes Big Comment on BRICS Currency Plans Amid De-Dollarisation Push | Watch

Hindustan Times  

Jaishankar Makes Big Comment on BRICS Currency Plans Amid De-Dollarisation Push | Watch India has made a big declaration amid speculation of a new BRICS currency. India's external affairs minister, S. Jaishankar, said there are no plans for a new BRICS currency and that the focus is on strengthening the national currency. Some reports state that 41 countries, including Bangladesh, …

After the stalled rupee-oil trade with Russia, India should be cautious on BRICS currency
1 year, 10 months ago

After the stalled rupee-oil trade with Russia, India should be cautious on BRICS currency

Firstpost  

On paper, India’s rupee-based oil trade with Russia was historic and also path-breaking for the world at large even more than what the arrival of euro and yuan might have been when they hit the global track. The dichotomy could only accentuate if India were to fall into the trap of joining the BRICS chorus for a currency of its …

Is the dollar getting dethroned? Not quite
1 year, 10 months ago

Is the dollar getting dethroned? Not quite

Hindustan Times  

There are some keywords that are periodically tossed around to indicate a looming crisis. Two, the yuan as a reserve currency – or the so-called yuannabe narrative – will not save the world which is still not ready to hand over the keys to a communist dictatorship. In fact, as the US moves towards another debt ceiling hike drama in …

Are we seeing a de-throning of the dollar?
1 year, 11 months ago

Are we seeing a de-throning of the dollar?

Hindustan Times  

Since early 2023, the international currency discussion has gained enormous traction. Further, in January 2023, several countries in South East Asia also deliberated over how to circumvent the US currency dominance; meanwhile, the dollar continues to gain strength. However, since the US dollar exchange rates have reached the highest in 20 years amongst the kitty of currencies, this rapid rise …

Dollar Decoupled: Donald Trump warns US currency 'crashing, will no longer be the world standard'
1 year, 11 months ago

Dollar Decoupled: Donald Trump warns US currency 'crashing, will no longer be the world standard'

Firstpost  

Donald Trump, frontrunner in the race for the 2024 Republican nomination, has been outrightly critical about the state of the economy of America New York: Dollar is “crashing” and “will soon no longer be the world standard,” said former US President Donald Trump, accusing his successor Joe Biden of destroying the country. There will be no defeat like that will …

Indian rupee could be the new dollar, says ‘Doctor Doom’ Nouriel Roubini
2 years, 1 month ago

Indian rupee could be the new dollar, says ‘Doctor Doom’ Nouriel Roubini

Firstpost  

Nicknamed as ‘Doctor Doom’ by Wall Street, Nouriel Roubini said overall there will be a process of de-dollarization over time New Delhi: The Indian rupee over time could become one of the global reserve currencies in the world, noted economist Nouriel Roubini said. Nicknamed as ‘Doctor Doom’ by Wall Street, Roubini in an interview to ET Now said: “One can …

Using a rupee route to get around a dominating dollar
2 years, 7 months ago

Using a rupee route to get around a dominating dollar

The Hindu  

A number of countries, including India, are now considering the use of other currencies to avoid the U.S. dollar and its hegemonic role in settling international transactions. The present scenario In recent times, India has been taking an active interest in having the rupee used for trade and the settlement of payments with other countries, which include Russia, now facing …

India goes for global trade payments in rupees: What it means & challenges ahead
2 years, 8 months ago

India goes for global trade payments in rupees: What it means & challenges ahead

India Today  

The Reserve Bank of India has announced that it is putting into place a mechanism for international trade settlements in rupees. The order takes immediate effect and the mechanism is designed to "promote growth of global trade with emphasis on exports," the RBI said. "In order to promote growth of global trade with emphasis on exports from India and to …

With West’s SWIFT Punishment to Russia, India Must Offer the World a Better Alternative – Its GPI
3 years, 1 month ago

With West’s SWIFT Punishment to Russia, India Must Offer the World a Better Alternative – Its GPI

News 18  

The Russian invasion of Ukraine has resulted in European countries quickly knocking off Russian banks from the international payment network SWIFT. India’s Central Bank Digital Currency is a mouthful and CBDC sounds like a non-functioning government acronym, so let’s call it “e-Rupee” — a simple name that clearly defines its form and linkage to India’s fiat currency, the Rupee. To …

Russia's de-dollarization drive more than symbolic
3 years, 1 month ago

Russia's de-dollarization drive more than symbolic

China Daily  

The Ukraine crisis is showing little sign of being resolved. Unhappy with the US dollar's domination of the global economy despite the declining US economy, Russia has implemented de-dollarization policies to safeguard its monetary sovereignty, offset the impact of the financial sanctions by the US and the EU, and make the international financial order more dynamic. As such, the rivalry …

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