BRICS leaders push faster, cheaper cross-border payments, deeper use of local currencies
Economic Times 1 hr ago·12 Sept 2026, 12:22 pm
BRICS leaders have agreed to prioritize faster and cheaper cross-border payments between member nations. The group is also pushing for greater interoperability between national payment systems and a stronger role for local currencies. This initiative aims to reduce reliance on dominant foreign currencies and facilitate smoother trade and investment flows.
For investors, this move could lower transaction costs and increase financial stability for member economies. It signals a potential shift in the global financial landscape, which may benefit sectors involved in international trade and financial services. However, the long-term impact depends on the successful implementation of these measures.
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- Category: Economy.
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