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India Favors Central Bank Digital Currencies for BRICS Payments
Source: Bloomberg
Crypto & Digital AssetsFintechCurrency & FXEmerging MarketsGeopolitics & War
India plans to urge BRICS members to broaden the use of central bank-backed digital currencies for cross-border payments. However, it will not support a unified BRICS payments network that could be perceived as a direct challenge to the US dollar, limiting the near-term implications for dollar dominance while advancing CBDC-based settlement initiatives.
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