India Suggests Linking BRICS CBDCs to Enhance Trade Efficiency

India has proposed the integration of Central Bank Digital Currencies (CBDCs) among BRICS nations to streamline trade processes. According to NS3.AI, this initiative aims to reduce costs and accelerate settlement times. While this move could diminish the transactional dominance of the U.S. dollar, it is expected to retain its position as the primary reserve currency and a safe haven asset. Despite potential changes in cross-border payment dynamics, the dollar's global financial influence remains robust due to trust and liquidity challenges associated with BRICS currencies.