Brazilian President Lula da Silva clarified that the introduction of a BRICS currency and de-dollarization will not be on the agenda for the 2026 India summit. He stated that there are no proposals or discussions within BRICS about creating a new currency, and described such discussions as "misunderstood." He supports bilateral trade settlements in local currencies, such as between Brazil and India, but emphasized that this is not anti-dollar, rather it aims to provide more options, while also acknowledging the dollar's dominant global position.
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Brazilian President Lula da Silva clarified that the introduction of a BRICS currency and de-dollarization will not be on the agenda for the 2026 India summit. He stated that there are no proposals or discussions within BRICS about creating a new currency, and described such discussions as "misunderstood." He supports bilateral trade settlements in local currencies, such as between Brazil and India, but emphasized that this is not anti-dollar, rather it aims to provide more options, while also acknowledging the dollar's dominant global position.