India retains US dollar, no plans to change currency

Updated

September 12, 2025

Gambar India retains US dollar, no plans to change currency

Jakarta, Pintu News – India has reiterated its position in support of the US Dollar’s role as the primary reserve currency, dismissing speculation about replacing the Dollar with another currency. Despite earlier discussions about exploring the use of local currencies, the Indian government emphasized that there are no concrete plans to replace the US Dollar in the near future.

Reaffirmation Against the US Dollar

The Indian government, through a recent statement, has reiterated its support for the US Dollar as the global reserve currency. Despite discussions at international forums such as the BRICS Summit about the potential use of local currencies, India emphasizes that the US Dollar still plays an important role in the global economy.

This statement shows consistency in India’s foreign and economic policies. Nageswaran, a top economic official, added that while there is a desire to explore alternatives, replacing the US Dollar is not a top priority. He emphasized that it would take significant time to find a strong and stable alternative to the US Dollar, which has proven to be a safe and reliable financial asset for decades.

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Economic Portfolio Diversification

crypto regulation india 2024 — The image created by AI

In a bid to strengthen economic stability, India continues to diversify its investment portfolio. Nageswaran stated that diversification is a process that is being prioritized, including the exploration of assets such as gold. This step is being taken to reduce dependence on a single asset and increase economic resilience.

Gold, as one of the safer commodities, is increasingly in demand in the Indian market, especially ahead of the festival season. This increased demand not only affects the local gold market, but also has the potential to influence global gold dynamics. This increase in demand is expected to have a positive impact on India’s economic growth.

Gold Market Outlook in India

As the festival season approaches, the jewelry market in India is expected to see a surge in gold purchases. This phenomenon is not only a tradition, but also a reflection of people’s confidence in gold as a safe investment. This increase in demand will certainly provide a stimulus for local economic growth.

In addition, rising gold demand in India also has the potential to affect gold prices globally. India is one of the largest gold consumers in the world, so changes in demand in the country can have a significant effect on the overall gold price. This shows how important the Indian market is in the context of the global gold market.

Conclusion

By reaffirming support for the US Dollar and increasing economic diversification, India is demonstrating its commitment to maintaining economic stability. These measures not only strengthen India’s position on the global stage, but also ensure sustainable economic growth. Going forward, it will be interesting to see how this strategy will impact the Indian and global economy.

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