The foreign exchange markets rarely move this much in minutes, raising doubts about BRICS member India trying to limit the U.S. dollar’s growth. Also Read: BRICS: What Happens if Saudi Arabia Stops Accepting US Dollar for Oil? BRICS: India & China Worried About the Rising U.S. DollarSource: HindustanTimes.comBRICS member India is not the only country that is trying to halt the growth of the U.S. dollar. Its BRICS counterpart, China, is using different tactics to limit the U.S. dollar’s growth against the Chinese Yuan. Also Read: BRICS: Top Oil Trader Predicts Future of the U.S. DollarChina announced a new rule that its financial institutions must hold foreign currency deposits by a third only.

Source: Hindustan Times September 11, 2023 15:02 UTC