<h1>Government says it will not pursue replacing the US dollar for international trade; central banks diversify reserves, buy gold</h1> The chief economic adviser stated that the government is not pursuing any proposal to replace the US dollar as the international currency for global trade, rejecting participation in such an initiative. While BRICS previously endorsed use of local currencies and contemplated a special BRICS currency for cross-border settlements, the adviser noted no viable immediate alternative to the dollar and anticipated a lengthy timeframe for any change. Central banks, including the national central bank, are diversifying foreign exchange reserves and increasing gold holdings.