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Brazil Rejects BRICS Currency, Emphasizes Direct Trade with India

2/25/2026

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Summary

Story summary

Brazil has dismissed the idea of a BRICS currency, signaling a focus on swaps and payment-system cooperation.
During a visit to India, President Luiz Inacio Lula da Silva said there has been no proposal or discussion of a BRICS currency.
Lula da Silva says India and Brazil can trade using their own currencies without the US dollar.
The remarks come amid BRICS currency speculation as part of a dedollarisation trend.

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Story summary

Brazil has dismissed the idea of a BRICS currency, signaling a focus on swaps and payment-system cooperation.
During a visit to India, President Luiz Inacio Lula da Silva said there has been no proposal or discussion of a BRICS currency.
Lula da Silva says India and Brazil can trade using their own currencies without the US dollar.
The remarks come amid BRICS currency speculation as part of a dedollarisation trend.