All BRICS members back strengthening national currencies: Araghchi

Tehran - BORNA - Speaking to reporters on the sidelines of the BRICS Summit in New Delhi, Araghchi highlighted the growing weight and importance of the organization in global governance. He praised India’s leadership as the current chair of the bloc, describing the host nation as a major emerging power fully capable of guiding BRICS member states toward deeper strategic and economic cooperation.  

Addressing financial mechanisms within the group, the foreign minister acknowledged that while individual member nations hold varying perspectives on specific monetary frameworks, there is complete alignment on the primary goal of promoting local currency transactions. He emphasized that member states agree on the need to utilize national currencies in bilateral and multilateral commerce to build economic resilience and reduce vulnerability to external financial pressures.  

Araghchi clarified that while the immediate focus centers on expanding trade through respective national currencies, the broader long-term concept of establishing a single common BRICS currency remains under review and continues to be analyzed among member states.  

End Article