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LOCAL CURRENCY SETTLEMENT
Rupee, dirham and UPI: India, UAE push cross-border trade without frictionIndia and the UAE are working towards enhancing bilateral trade by adopting local currency transactions and payment system integration. The...- UAE to invest another $25 billion in India, eyes energy betsThe UAE is set to invest an additional $25 billion in India, strengthening energy cooperation between the nations. India and the UAE are ex...
- Trump says US will ‘win’ Iran war soon, leaves door open to strikes before midtermsPresident Donald Trump is optimistic that the ongoing conflict with Iran will come to a swift conclusion. He indicated that the resolution ...
- Economic Affairs Secretary underlines need for household savings to be channelled into India's financial systemEconomic Affairs Secretary Anuradha Thakur emphasised India's potential for greater global financial integration. She highlighted the impor...
- Global Market: China broadens Yuan FX clearing in push for global currency useChina has expanded yuan foreign-exchange clearing to include the Singapore dollar, New Zealand dollar and Thai baht, as Beijing seeks to wi...
- Making a dollar detour: Why BRICS isn’t breaking up with the dollarThe latest BRICS declaration emphasizes interoperable payment systems and local currency settlement. It explicitly avoids proposing a commo...
- Global Market: South Korean shares fall as AI concerns weigh; won strengthensSouth Korean shares fell sharply on Monday, led by technology stocks, as concerns over the pace and risks of artificial intelligence develo...
- BRICS urges IMF, World Bank reforms, condemns unilateral tariffs, secondary sanctionsBRICS leaders adopted the New Delhi Declaration, expressing serious concerns over unilateral trade measures. They called for the eliminatio...
- BRICS leaders push faster, cheaper cross-border payments, deeper use of local currenciesBRICS leaders are calling for faster and cheaper cross-border payments among member nations. They also support greater interoperability bet...
- De-dollarisation: BRICS takes a measured route, focuses on payments and not on common currencyThere is no mention of a common BRICS currency or a formal call for replacement of the US dollar. Instead, the document sticks to the more ...
- De-dollarisation and its impact on commodities and global tradeFor decades, the US dollar has dominated global trade and commodity markets. Most commodities, including crude oil, natural gas, gold, indu...
- Piyush Goyal urges BRICS to link payment systems, trade in local currenciesIndia's Commerce Minister urged BRICS nations to link payment systems and trade in local currencies. He also called for simplified regulati...
- BRICS finance chiefs flag tariff risks, push cross-border paymentsBRICS finance ministers voiced concerns over unilateral trade actions and tariffs. They endorsed efforts for cross-border payment interoper...
- BRICS fin mins, central bank chiefs raise concerns on unilateral trade and finance-related measuresBRICS finance ministers and central bank governors voiced concerns over unilateral trade measures. They backed efforts for cross-border pay...
- BRICS 2026 calls for bigger emerging-market voice in IMF, World Bank; criticises unilateral tariffsBRICS finance leaders urged greater emerging market representation in global financial institutions. They also advocated for increased loca...
- India, Russia explore digital currency payments for trade in cross-border breakthroughIndia and Russia are exploring digital currency payments for bilateral trade, potentially opening a faster route for cross-border settlemen...
- India's BRICS play may have a payment plan with no hard cashIndia is unlikely to back a common BRICS currency at the September 12-13 summit, instead favouring links between national payment systems a...
- India-Russia target $100 billion trade by 2030; BIT fast-tracked as Goyal eyes pharma, textiles and auto exportsIndia and Russia aim to boost their bilateral trade to an impressive hundred billion dollars by 2030, focusing on growth in key sectors suc...
- UPI can do more tricks among BRICSIndia is championing the integration of the Unified Payments Interface (UPI) for cross-border digital transactions within BRICS countries. ...
- BRICS by BRICS: India's journey from seeking reforms to shaping global orderIndia's BRICS engagement has shifted from seeking a voice to offering indigenous solutions. The nation now actively shapes global order wit...
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