Neutral impactEconomy
Russia Downplays 'De-Dollarisation' Push, Says 90% Of BRICS Trade Already In Local Currencies
NDTV Profit 1 hr ago·8 Sept 2026, 2:38 pm
Russia has clarified that its push for de-dollarisation is largely symbolic, stating that 90% of trade within the BRICS bloc already happens in local currencies. This statement counters fears that a major shift away from the US dollar is imminent, suggesting the current economic friction is more about long-term strategy than immediate payment disruption.
For Indian investors, this news highlights the growing importance of regional trade agreements. While the immediate impact on the rupee or broader market volatility is likely minimal, it reinforces the trend of diversifying away from the US dollar for large-scale international commerce.
Investors should watch the progress of the BRICS New Development Bank and upcoming trade deals. A successful expansion of these currency agreements could gradually reduce reliance on the dollar, potentially benefiting emerging markets in the long run.
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- Category: Economy.
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