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In what is certainly a sign of growing BRICS de-dollarization efforts, Russia, China, and India have removed the US dollar in 95% of trade. Secretary General of the In an attempt to reduce reliance on the US dollar and to internationalise the Indian rupee, the Reserve Bank of India (RBI) allowed invoicing and payments for international India signed an agreement for trading in local currencies with the UAE in July 2025 and with Malaysia in April 2025. Later the same year, the Indian government declared it BRICS Breakthrough: India Successfully Persuades 22 Nations to Embrace Rupee, Bid Farewell to US Dollar 🌍 BRICS & India Drive Change: Exciting news as BRICS, led by India, convinces 22 According to a report from Hindu BusinessLine, which cited an anonymous source, India is leaning towards accepting the proposal to conduct trade using national Banks from 22 countries opened special Vostro accounts to settle cross-border transactions in the Indian Rupee and ditch the US dollar. The move comes at a time India and Indonesia, two key members of the BRICS alliance, have officially agreed to abandon the US dollar for cross-border transactions, opting instead to settle trade in The Indian Rupee is getting recognized internationally as 22 countries have opened special bank accounts to trade with the INR. Banks from 22 countries opened special BRICS member India convinced 22 countries to open special Vostro bank accounts to settle trade in the Rupee for imports and exports. Vostro is a special bank account

BRICS Breakthrough: India Convinces 22 Countries to Trade in Rupees, Ditch US Dollar

Exciting news as BRICS, led by India, convinces 22 nations to embrace the Indian Rupee, signaling a major shift away from the US dollar in international trade! This move, driven by growing BRICS de-dollarization efforts, represents a significant development in the global economic landscape. India's success in promoting the Rupee for international transactions marks a pivotal moment.

India Drives Change in BRICS & Beyond

BRICS member India has successfully convinced 22 countries to open special Vostro bank accounts to settle trade in the Rupee for imports and exports. Vostro is a special bank account. This initiative follows reports indicating that Russia, China, and India have already removed the US dollar in 95% of their trade, further solidifying the de-dollarization trend.

Key Highlights:

  • 22 Countries Embrace Rupee: Banks from 22 countries opened special BRICS member India convinced 22 countries to open special Vostro bank accounts to settle trade in the Rupee for imports and exports.
  • De-dollarization Gains Momentum: In what is certainly a sign of growing BRICS de-dollarization efforts, Russia, China, and India have removed the US dollar in 95% of trade.
  • RBI's Role: In an attempt to reduce reliance on the US dollar and to internationalise the Indian rupee, the Reserve Bank of India (RBI) allowed invoicing and payments for international trade in Rupees.
  • Agreements & Declarations: India signed an agreement for trading in local currencies with the UAE in July 2025 and with Malaysia in April 2025. Later the same year, the Indian government declared it a priority to expand Rupee trade.

Growing Acceptance of the Indian Rupee

The Indian Rupee is getting recognized internationally as 22 countries have opened special bank accounts to trade with the INR. The move comes at a time when global interest in alternatives to the US dollar is increasing. India and Indonesia, two key members of the BRICS alliance, have officially agreed to abandon the US dollar for cross-border transactions, opting instead to settle trade in local currencies. According to a report from Hindu BusinessLine, which cited an anonymous source, India is leaning towards accepting the proposal to conduct trade using national currencies.

This BRICS initiative, spearheaded by India, is poised to reshape global trade dynamics and reduce dependence on the US dollar. Stay tuned for further updates on this developing story!

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