BRICS' Trade Push Seen as Positive Development Despite Dollar Dominance

Chip Rogers, President and CEO of Rogers Capital Consultancy, believes that the US dollar will remain central to global trade for 'quite some time'. He spoke with ANI on the sidelines of the BRICS Summit 2026 in New Delhi. Rogers stated that around 99% of stablecoins are backed by US Treasuries or the US dollar.

He added, 'You typically don't go to war with those that you trade with.' This is a reference to American economist Milton Friedman's observation about the benefits of trading relationships. BRICS' push for greater trade among member countries is seen as a positive development by Rogers.

Rogers explained that BRICS nations are unlikely to reduce their dependence on the US dollar in the near future or create a common currency. Instead, they will focus on technology that enables smoother cross-border transactions using domestic currencies.