India, Sept. 12 -- The ministry of external affairs on Saturday issued clarification on whether there had been discussion among the BRICS member nations over having a common currency.

In response to a reporter's query on the matter, Secretary (Economic Relations) in the MEA, Sudhakar Dalela, said there was no proposal in the BRICS for a common currency "as of now."

Dalela further said that the focus at present remains on settling bilateral trade in local currencies so as to reduce transactions costs. The remarks come a day after India urged BRICS nations to link their payment systems to allow trade in local currencies.

Dalela, while answering a question on common currency, said, "You also asked a question about BRICS currency and I wou...