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Russia Plans to Link Digital Ruble with BRICS CBDCs to Bypass US Dollar

The initiative, highlighted by the Russian Chamber of Commerce, aligns with the Reserve Bank of India’s call for shared infrastructure and common rules among member nations.

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Terms & Concepts
  • CBDC (Central Bank Digital Currency): A digital form of a country's fiat currency issued and regulated by the nation's monetary authority.
  • BRICS: An intergovernmental organization comprising Brazil, Russia, India, China, South Africa, and other members, focusing on economic and political cooperation.
  • Digital Ruble: The central bank digital currency currently being developed and piloted by the Bank of Russia.