Story perspectives

BRICS Leaders Push National-Currency Trade at New Delhi Summit

By Drooid · Sep 14, 2026, 10:52 AM UTC · How we work

Summary

Story summary

BRICS leaders met in New Delhi for the 18th summit on September 12, 2026.
Indian Prime Minister Narendra Modi and Chinese President Xi Jinping met in New Delhi, marking Xi’s first visit since 2019.
BRICS members discussed expanding trade in national currencies and digital payments, preferring a limited de-dollarisation approach.
Iran and the United Arab Emirates pledged to set aside past disputes and pursue future cooperation.

History

Historical Context

The euro launched on 1 January 1999 and by end-2008 held €850 billion of global reserves – roughly 22 % in advanced economies and 31 % in emerging markets, up from 18 % in 1999. At the 2026 BRICS summit in New Delhi, India’s Narendra Modi and China’s Xi Jinping urged de-dollarisation, echoing the euro’s earlier challenge to the dollar’s dominance.

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Story summary

BRICS leaders met in New Delhi for the 18th summit on September 12, 2026.
Indian Prime Minister Narendra Modi and Chinese President Xi Jinping met in New Delhi, marking Xi’s first visit since 2019.
BRICS members discussed expanding trade in national currencies and digital payments, preferring a limited de-dollarisation approach.
Iran and the United Arab Emirates pledged to set aside past disputes and pursue future cooperation.

1 / 2