RMB internationalisation speeds up again as BRICS payment system rejects Indian rupee: India's tripartite payment docking

According to the latest reports in the Indian media, the BRICS payment system has confirmed that it will not include the Indian rupee. Despite India's strong push to include the rupee in the BRICS Pay system, the proposal was met with staunch opposition and failed to materialise. The good news is that BRICS Pay is headquartered in Shanghai and uses the Chinese Yuan as its core currency. This system not only simplifies cross-border transactions, but also helps promote the internationalisation of the RMB, demonstrating the strong determination of BRICS countries to work together to build a new financial order.

Russia is currently holding the BRICS presidency and the country seems to have suffered from the rupee swap, which is out of character for Russia, which usually does not take pressure on India lightly.

Of course, for a currency to be considered a payment currency within BRICS, it must have real value. Russia's real assets are its resources, while China's are its commodities. However, India always seems to seize any opportunity to assert its value and enjoy the benefits for both sides, but this approach will ultimately lead to consequences. Moreover, India, with a population of 140 million, has always lagged behind South Korea, with a population of only 50 million, in its manufacturing output. One cannot help but question the wisdom of accepting the rupee as an exchange for something as insignificant as cow dung. Finally, it's worth noting that India has been misled to some extent by the West... and it's time to get back on the right path.