Brazil Central Bank Official: No Real Threat to US Dollar Dominance Yet
Brazil’s central bank expects the US dollar to remain the dominant global currency for at least the next decade.
Monetary policy director Nilton David told Reuters that BRICS nations—despite their growing cooperation—lack the financial infrastructure and asset depth to challenge the dollar’s supremacy. While tools for alternative settlements may boost bilateral trade, David said they won’t be enough to displace the greenback.
BRICS, which includes countries like China, Russia, and Brazil, has discussed de-dollarization but has yet to introduce a common currency, prompting concern from U.S. leaders.
Clever Robot News Desk 24th May 2025
