Brazil Pushes BRICS Nations to Embrace Local Currencies Over the US Dollar

Brazil is advocating for a shift away from the U.S. dollar within the BRICS alliance, promoting the use of national currencies in trade among member countries.

As the group expands, discussions on alternative payment platforms are gaining traction ahead of the upcoming BRICS summit in Kazan. Eduardo Paes Saboia, Brazil’s Foreign Affairs Secretary for Asia and the Pacific, highlighted ongoing talks aimed at reducing dollar reliance, emphasizing the importance of this initiative during Brazil’s chairmanship in 2025.

Additionally, BRICS leaders are exploring options for alternative payment systems and national currency investments through the BRICS New Development Bank

Clever Robot News Desk 18^th October 2024