Single BRICS currency proposal remains under study: Araghchi
Iranian Foreign Minister Seyed Abbas Araghchi stated that the establishment of a unified currency among BRICS member states remains under review, emphasizing that all bloc nations agree on the need to strengthen national currencies for intra-group trade.
Tehran - BORNA - Speaking to reporters on the sidelines of President Masoud Pezeshkian’s meeting with intellectuals and religious leaders in India, Araghchi acknowledged that while differing perspectives exist within the economic group, there is a shared consensus on promoting local currency transactions. He noted that member states are aligned on expanding the use of national currencies in bilateral and multilateral trade to reduce reliance on external financial structures.
The foreign minister added that despite varying viewpoints on the implementation of a common framework, the proposal to create a single BRICS currency continues to be actively evaluated among member states.
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