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Brics+ eyes alternative payment systems, but dollar dominance looms

It is a necessary risk mitigation strategy in an uncertain world

Dollar, trade
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ILLUSTRATION: BINAY SINHA

Amita Batra

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The Brics has been among the first inter-regional organisations to be targeted by the new US administration. President Donald Trump has announced a 100 per cent tariff if the grouping proceeds with the objective of de-dollarisation. The apprehension of a currency alternative to the dollar under the aegis of the Brics has gained ground with the expansion of its membership in 2024 and the use of alternative payment systems for trade settlement that was to some extent successful in blunting the economic sanctions on Russia in the wake of the Ukraine crisis.  Furthermore, with the US-China bilateral relationship getting increasingly
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

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