BRICS member states support greater use of their national currencies in trade, as the bloc seeks to strengthen financial cooperation and reduce reliance on foreign currencies in transactions, Iranian Foreign Minister Abbas Araghchi said.
Araghchi said members shared common ground on strengthening national currencies and expanding trade using their own currencies, despite differences on other issues within the group.
Speaking to Indian journalists on the sidelines of the BRICS summit, he described BRICS as an increasingly important institution in global affairs and said India, which is leading the group, could play an effective role in advancing cooperation among members.
The possibility of creating a common BRICS currency remains under consideration, Araghchi said, adding that discussions on the proposal are continuing.
Iranian President Masoud Pezeshkian arrived in New Delhi on Friday to attend the 18th BRICS Summit, where he was welcomed by Indian Minister of State for Ports and Shipping Shantanu Thakur.
