BRICS Summit 2026: The case for a common currency, 11 members, 11 different monetary systems
Edited By WION Video Desk
Published: Sep 12, 2026, 14:35 IST | Updated: Sep 12, 2026, 14:35 IST
BRICS wants to look beyond the dollar, but its economic scale is racing ahead of its financial integration. With 11 member nations running 11 completely different monetary systems, a shared BRICS currency remains more concept than reality. India, this year's chair, has explicitly ruled it out, pushing instead for linking local payment systems like UPI, China's CIPS and Brazil's Pix. So for now, BRICS' dollar alternative isn't one currency, it's many currencies working together.
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