The BRICS nations agreed on Saturday to broaden the use of local currencies for trade and payments, marking another move toward reducing reliance on the dollar as the group looks to balance an increasingly assertive United States. These commitments were included in the “New Delhi Declaration 2026”, which was adopted unanimously on the opening day of the 18th BRICS summit.
Following a private meeting, Indian Prime Minister Narendra Modi stated that none of the members raised any objections to the document.
The 45‑page declaration noted that the BRICS Payment Task Force had examined cross‑border interoperability of payment and messaging systems and discussed the use of local currencies for trade settlements and investment.
The task force was instructed to continue developing payment solutions that are fast, low‑cost, widely accessible, efficient, transparent, and secure.