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Should the US dollar be a BRICS currency?

Nations often use the US dollar to trade between themselves. Leading politicians in Brazil and Russia have suggested creating a Brics currency, to reduce the dollar's dominance. However, this was not discussed at the group's 2023 summit.

Should BRICS create a common currency?

JOHANNESBURG, Aug 23 (Reuters) - Brazil's President called on Wednesday for the BRICS nations to create a common currency for trade and investment between each other, as a means of reducing their vulnerability to dollar exchange rate fluctuations. Luiz Inacio Lula da Silva made the proposal at a BRICS summit in Johannesburg.

Does South Africa need a BRICS currency?

South African officials had said a BRICS currency was not on the agenda for the summit. In July, India's foreign minister said, "there is no idea of a BRICS currency". Its foreign secretary said before departing for the summit that boosting trade in national currencies would be discussed.

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