Lula Advocates for Multi-Currency Trade Solutions

During his visit to China, Brazilian President Luiz Inacio Lula da Silva emphasized the need for a multi-currency trade system, rather than reliance on the U.S. dollar. He expressed interest in creating a currency or group of currencies for business within the BRICS nations, steering away from dependence on a single currency.

In a significant diplomatic move, Brazilian President Luiz Inacio Lula da Silva has expressed a desire to shift away from the dominance of the U.S. dollar in international trade. During a visit to China, Lula emphasized the necessity of establishing a multi-currency trade system.

While addressing reporters, President Lula clarified that Brazil's goal is not to compete with the U.S. dollar. Instead, the South American nation, alongside the BRICS group, seeks an innovative solution that would reduce reliance on a single currency for international transactions.

Lula's comments have sparked discussions about the potential creation of a new currency bloc among BRICS nations. Such a move could redefine global economic relationships and offer a more balanced platform for international trade.

(With inputs from agencies.)