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Could BRICS create an alternative to the dollar?

The US dollar has been the world’s reserve currency since the end of World War II [File: Rick Wilking/Reuters] Bradlow agreed. “The idea of the BRICS creating an alternative to the dollar seems completely fanciful and unrealistic,” he said, noting the major differences between the five economies.

Why does Lula want a BRICS currency?

Brazil's president doesn't believe nations that don't use the dollar should be forced to trade in the currency, and he has also advocated for a common currency in the Mercosur bloc of South American countries.

Will BRICS countries roll out their own currency?

The dollar is by far the most-used currency in global business and has shrugged off past challenges to its preeminence. Despite repeated talk of the BRICS countries rolling out their own currency, no concrete proposals have emerged in the run-up to the summit starting Tuesday.

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