During their recent meeting, BRICS Ministers of Foreign Affairs highlighted the importance of adopting local currencies for trade among member countries, aiming to strengthen economic resilience and financial sovereignty.

This move signifies a shift towards reducing dependency on dominant global currencies, intending to foster closer economic cooperation and empower the financial systems within the BRICS nations.

The emphasis on utilising local currencies for financial transactions is seen as a strategic step to mitigate against economic vulnerabilities and enhance mutual trade and investment opportunities.

By focusing on such financial strategies, the BRICS countries are working to bolster their economic ties and secure a more stable and self-reliant economic future.