RT reported that speaking at the Chatham House Institute, London on March 5 during an official visit to the UK, Indian Foreign Minister S. Jaishankar rejected the view that BRICS is cooperating to weaken the USD.
He emphasized: "The assumption that BRICS has a unified stance against the USD is not based on reality."
According to him, BRICS members - especially after the expansion - have very diverse views on this issue. India has no interest in weakening the US dollar at all, Jaishankar said.
The statement came just weeks after US President Donald Trump said BRICS was trying to destroy the US dollar and threatened to impose a 150% tariff on goods from member states.
The Indian foreign minister also clarified that the internationallization of rupees is not to challenge the USD but is only part of the " wonk global" strategy for India. The use of rupees is increasing as more and more indians live and work abroad.
Jaishankar also said that in South Asia, transactions in rupees are increasing due to a shortage of USD supply, while affirming: "Many countries want more USD, not less".
Contrary to India's view, speaking earlier at a meeting with senior BRICS representatives on February 27, Brazilian President Luiz Inacio Lula da Silva affirmed that Brazil's BRICS presidency in 2025 will continuously strive to de-dollarize and promote the building of a multipolar world.
The Brazilian president stressed that BRICS is determined to reduce its dependence on the US dollar despite US President Donald Trump's tariff threats and will continue to seek options to shift trade away from the US dollar.
According to Xinhua, the USD exchange rate weakened in the early morning trading session of March 7.
USD Index, measuring the strength of the greenback against 6 major currencies, decreased by 0.23% to 104.059 points at 20:00 GMT on March 6 (3:00 a.m. on March 7, Vietnam time).
The euro rose to $1.0802 from $1.0790 in the previous session. Meanwhile, the British pound decreased slightly to 1.2894 USD compared to 1.2897 USD in the previous session.
The USD also weakened against the Japanese yen, falling to 147.69 yen compared to 148.79 in the previous session.
The greenback fell to 0.8827 Swiss francs from 0.8904, and fell to 1.4303 Canadian dollars from 1.4336 Canadian dollars.
Compared to the Swedish Krona, the USD also fell to 10.1658 Krona from 10. 1990 Kr Krona.
