NDB will launch its first Indian rupee bond worth USD 400–500M by March 2026. The bond will fund Indian projects and reduce dollar dependence.This marks a key step for BRICS in promoting local currencies internationally.
The BRICS-backed New Development Bank (NDB) announced plans to issue its first Indian rupee-denominated bond by the end of March 2026. The issuance, valued between USD 400M and 500M, will carry a maturity of three to five years.
The move aims to finance domestic projects in India using local currency while reducing reliance on the US dollar. It also reflects BRICS’ broader strategy to elevate member currencies in global markets.
NDB has previously issued bonds in China’s yuan and South Africa’s rand. Adding the rupee to this portfolio strengthens diversification and marks a significant step in boosting India’s global financial influence.