Brazil’s president wants to end dollar dominance and backs calls for BRICS nations to use their own currency

Brazil’s president urged BRICS countries to develop a new currency and move away from the dollar. That comes as Brazil and China strengthen ties, recently agreeing to use the yuan in cross-border trade. However, analysts see de-dollarization as unlikely, given the lack of good replacements. Brazil President Luiz Inácio Lula da Silva has urged developing nations to find an alternative currency to the dollar, denouncing the central role of the greenback in global trade. Thursday’s