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BRICS member India is shielding itself from Trump’s tariffs by projecting it has no plans to challenge the US dollar. India is seeking to dodge Trump’s tariffs after he threatened to impose duties on countries that move away from the USD. India is now stressing that it has no intentions of ditching the greenback for global trade and transactions, reported Bloomberg. The move is to remain in the good books of Trump by not allowing him to impose tariffs on goods. Officials in New Delhi are closely monitoring the tariff changes and are informing the US authorities that they intend not to undermine the greenback. India, despite being a BRICS member since 2009 does not want to fall under Trump’s ambit of additional tariff policies. Also Read: BRICS Omits De-Dollarization & New Currency at 2025 Summit BRICS Member India Aims To Secure Trade Deals With the US Source: stimson.org Trump followed on with his threats by slapping Brazil with 50% tariffs on Wednesday signaling that...

RICS member India remains skeptical of a common BRICS currency citing risks of alienating global trade ties with the US. Leading import and export businesses in India and those stationed in the US want to keep the US dollar intact. Indian businesses are now cautious in embracing a common currency as it risks disrupting the normal flow of commerce. Also Read: 23 Countries Show Interest To Join BRICS in 2025 The evolving framework of the BRICS alliance is moving towards the formation of a new common currency for trade. It challenges the global economic system but the push towards a common currency is usually made by China and Russia. Indian businesses are concerned that a common BRICS currency gives power to China and make its economy influential. Also Read: BRICS: 2 Countries Settle $37 Billion Trade in Local Currencies BRICS: India Disinterested in Common Currency, Wants the US Dollar Source: Freepik.com Businesses in India need the US dollar to survive as the currency provides securit...

Gautam Adani, the Indian billionaire facing securities violations charges, has been cleared by India’s market regulator of FCPA violations. The Adani Group saw its financial markets standing improve after confirming no foreign corruption charges against its founder. Also Read: Can Dogecoin (DOGE) Surge To $2 in December 2024? The Role of India’s Market Regulator and Its Impact on the Adani Group and Financial Markets Legal Classification and Market Response Adani Green Energy Ltd told India’s market regulator that Gautam Adani only faces securities fraud charges. No bribery charges were filed. The financial markets in India welcomed this news. Adani Enterprises rose 8.3%, while Adani Green jumped 10%. These securities violations charges carry lighter penalties than bribery accusations, according to the official filing. Also Read: Russia Officially Recognizes Bitcoin & Crypto As Property Regulatory Oversight and Impact India’s market regulator played a key role as...

Russia’s President Vladimir Putin proudly displayed a mock-up currency bill at the 16th summit in Kazan this year. The BRICS alliance clarified that the banknote is unofficial and was only a display presented by Putin. The theatrics of a BRICS currency followed Russia’s de-dollarization agenda to evade sanctions. Also Read: BRICS: India Extends CBDC Payments to New Countries However, the de-dollarization agenda has no takers even among the existing BRICS members. Countries like India, South Africa, and Brazil are slowly taking a step back as the dust settles after the summit. Only desperate countries like Russia, China, and Iran are advancing de-dollarization using BRICS as a stepping stone. Also Read: BRICS: Morgan Stanley Predicts the Future of the US Dollar BRICS: Russia & China’s De-Dollarization Plans Find No Takers Source: AtlanticCouncil.org No serious development about launching a new BRICS currency is taking shape within the bloc. The formation of a BRICS curr...

CoinDCX and Koinex have merged to navigate regulatory hurdles in India. Seamless transition for Koinex users to access assets via the CoinDCX platform. CoinDCX reaffirms its commitment to the Web3 community, remaining open to further partnerships. In a strategic move to navigate regulatory uncertainties hindering the crypto currency landscape in India , India ’s leading crypto exchanges CoinDCX and Koinex have announced a merger. The collaboration aims to address the challenges faced by users while fostering crypto adoption in the country. The merger ensures a seamless transition for Koinex users to access their assets through the CoinDCX platform, emphasizing support for the Web3 community and commitment to regulatory compliance. Seamless transition for Koinex users Existing Koinex users can expect a smooth transition process as they migrate to the CoinDCX platform. With a focus on user convenience, assets will be automatically transferred for tho...

The USD vs INR trade reached an all-time high of 83.40 on Monday, making the Reserve Bank of India (RBI) much worried. BRICS member India most likely dumped US dollars in the currency markets to limit the damage done to the Rupee. The Central Bank is looking to curb losses in the Rupee and sold US dollars to keep it from falling further. While the majority of Asian currencies dipped, the Rupee managed to slightly rise in the charts due to the market intervention. Also Read: BRICS: Analyst Predicts Biggest Economic Crash in US History The RBI is indulging in market intervention to limit the Rupee ’s fall, said four traders to Reuters on the condition of anonymity. India ’s Central Bank is most likely to “keep protecting,” the Rupee at these levels, said a foreign exchange trader. The move helps the Rupee to maintain a steady pace and not dip against the strong US dollar. Also Read: BRICS: $2 Billion Copper Trade To Be Paid In Chinese Yuan, Not US Doll...