BRICS: India & Nigeria Finalize Major Partnership Ditching US Dollar

BRICS: India & Nigeria Finalize Major Partnership Ditching US Dollar
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42,304 views May 12, 2024 ✪ Members first on May 12, 2024 #bricks #nigeria #india
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BRICS member India finalized a major trade partnership with Nigeria on Friday switching away from the US dollar. Both countries will use local currencies in the bilateral trade agreement for energy, pharmaceuticals, and transport sectors. India and Nigeria have agreed to cooperate and settle trade in local currencies and not the US dollar.

However, the local currency in question is yet to be finalized and could be either the Indian rupee or the Nigerian naira. The agreement comes at a time when BRICS is looking to uproot the US dollar as the world’s reserve currency.

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