India Proposes Linking BRICS CBDCs to Boost Trade Efficiency and Challenge Dollar Dominance

India has proposed integrating Central Bank Digital Currencies (CBDCs) among BRICS nations to improve trade efficiency by lowering costs and speeding up settlements. This initiative could reduce the U.S. dollar's transactional dominance in cross-border payments. However, the dollar is expected to maintain its role as the primary global reserve currency due to trust and liquidity issues faced by BRICS currencies.