The latest BRICS declaration does something more revealing than announce a new currency. It just leaves the idea out altogether. The 140-paragraph New Delhi Declaration does not propose a common BRICS currency, nor does it endorse linking members’ central bank digital currencies (CBDCs).
Instead, it backs interoperable payment and messaging systems, settlement in national currencies and greater local-currency financing. MEA Secretary (Economic Relations) Sudhakar Dalela said plainly that “there is no proposal in the BRICS for a BRICS currency, as of now.”
