Luiz Inacio Lula da Silva was speaking at the new development Bank, a bank created by the BRICS located in China Shanghai he said, 'why can't an institution like the BRICS bank have a currency to finance trade relations between Brazil and China. Between Brazil and all the other BRICS countries who decided that the dollar was the trade currency unquote the idea of a common BRICS currency has been in the works for some time now the idea gained momentum after Russia a member of the BRICS group was cut off from the Global Financial system and paying for Russian oil in US dollars became very difficult however the brics currency is unlikely to see the light of day anytime soon.

Brazilian President Lula da Silva wants a BRICS currency

Luiz Inacio Lula da Silva, the president of Brazil, arrived in China late on Wednesday for an official visit intended to strengthen already close ties between the Asian behemoth and the largest economy in Latin America. The seasoned lefty made his first stop in Shanghai with his wife Rosangela "Janja" da Silva before travelling to Beijing to meet with his counterpart Xi Jinping. As they were welcomed by China's Deputy Foreign Minister Xie Feng, they were given flower bouquets. Lula announced his intention to ask President Xi to visit at an undetermined time before leaving Brazil.

Brazil's President Lula arrives in Shanghai for his state visit

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Brazilian President Lula da Silva wants a BRICS currency

Brazil's President Lula arrives in Shanghai for his state visit