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| BRICS discusses facilitating transactions in national currencies |
| Naí Dillí, 08.09.2026 |
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| BRICS member states are looking for practical mechanisms to reduce costs in mutual trade in order to expand cooperation and boost investment, a source close to the Indian government familiar with the preparations for the group's upcoming summit on September 12-13 said on Monday. TASR reports this based on a report by the TASS agency.
"The discussions within BRICS on payment transactions in national currencies and platforms for central bank digital currencies represent a search for practical mechanisms. The aim of these discussions is to find practical ways to reduce transaction costs in bilateral trade," the source said, stressing that the new mechanisms are seen as "a complement to the already existing global payment and settlement systems." "These discussions are not directed against any particular country or group of countries. They are being conducted independently within the framework of cooperation between finance ministers and central bank governors," he noted.
The Economic Times previously reported that India, which currently holds the presidency of the BRICS group, is likely to present the concept of seamless cross-border digital payments and the introduction of central bank digital currencies in the bloc's member states at its upcoming summit.
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