The Evil Genius
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- Mar 21, 2014
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Nchi za Brics juzi hapa zilikuja na mpango wa kuanzisha sarafu yake na kuachana na matumizi ya Dollar kwenye miamala yao. Wiki iliyopita Trump alitishia kuwawekea vikwazo BRICS kama wataendelea na mpango wao wa kuachana na matumizi ya Dollar.
Leo waziri mkuu wa India amesema wao hawajawahi kua na mpango wa kuacha a na matumizi ya Dollar hata siku moja.
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The head of India’s central bank on Friday said the country was not pursuing a policy of de-dollarization and no decisions have been made so far on the BRICS currency, a week after President-elect Donald Trump threatened to slap 100% tariffs on the BRICS group of nations if they attempt to replace the dollar in international trade.
Indian Prime Minister Narendra Modi, Russian President Vladimir Putin and Chinese President Xi Jinping attend a family photo during the BRICS summit in Kazan. POOL/AFP via Getty Images
Das said India “entered into local currency-denominated trade agreements” to reduce risk in some circumstances, as “Dependence on one currency can be problematic at times because of appreciation or depreciation.”
Das reiterated that de-dollarization was “certainly not our objective” and said the concept of a BRICS currency was raised by one of the members of the group, but no decision has been taken on the matter.
“The geographical spread of the countries has also to be kept in mind, unlike the euro zone which has geographical contiguity,” Das added.
When asked specifically about Trump’s tariff threat, Das said it was too early to comment and added, “Let the policy come first.”
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Leo waziri mkuu wa India amesema wao hawajawahi kua na mpango wa kuacha a na matumizi ya Dollar hata siku moja.
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The head of India’s central bank on Friday said the country was not pursuing a policy of de-dollarization and no decisions have been made so far on the BRICS currency, a week after President-elect Donald Trump threatened to slap 100% tariffs on the BRICS group of nations if they attempt to replace the dollar in international trade.
Indian Prime Minister Narendra Modi, Russian President Vladimir Putin and Chinese President Xi Jinping attend a family photo during the BRICS summit in Kazan. POOL/AFP via Getty Images
Key Facts
In a press briefing on Friday, Reserve Bank of India Governor Shaktikanta Das was asked about Trump’s comments and said: “There is no step which we have taken that specifically wants to de-dollarize.”Das said India “entered into local currency-denominated trade agreements” to reduce risk in some circumstances, as “Dependence on one currency can be problematic at times because of appreciation or depreciation.”
Das reiterated that de-dollarization was “certainly not our objective” and said the concept of a BRICS currency was raised by one of the members of the group, but no decision has been taken on the matter.
“The geographical spread of the countries has also to be kept in mind, unlike the euro zone which has geographical contiguity,” Das added.
When asked specifically about Trump’s tariff threat, Das said it was too early to comment and added, “Let the policy come first.”
Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you'll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here.