BRICS Unanimously Pledges to Expand Local Currency Trade, Advancing De-Dollarisation

At the opening day of the 18th BRICS summit, the bloc’s members adopted the New Delhi Declaration 2026, agreeing to broaden trade and payments in their own currencies. The decision marks a concrete step toward de-dollarisation, a strategy aimed at countering what the countries view as an increasingly assertive United States. By agreeing to use local currencies, BRICS members hope to reduce their dependence on the U. S. dollar in cross‑border transactions. The declaration also reflects a rare moment of consensus, as the nations set aside some of their most contentious diplomatic differences to reach this common goal. The pledge will likely lead to new bilateral and multilateral agreements that facilitate local‑currency settlements, thereby reshaping the mechanics of international trade within the bloc.