Forex
Prabowo Leads Indonesian Delegation to BRICS Summit in New Delhi
President Prabowo Subianto arrived in New Delhi on September 11, 2026, to attend the BRICS Summit. The summit is expected to discuss various issues, including local currency settlement and a push for transparent and rules-based trade.
The Indonesian government has been pushing for local currency settlement, which would allow countries to trade without using the US dollar. This move is part of Indonesia's efforts to reduce its dependence on the US dollar and strengthen regional economic ties.
Indonesia secured its seat in BRICS in 2025, and the country is now working with India to link their QR payment systems. This initiative aims to ease the pressure on the rupiah against the dollar.