Brazil’s Vice President Geraldo Alckmin answered whether BRICS will replace the US dollar for trade among member nations. He cited that Trump’s tactics are driving emerging economies to cut ties with the US, making developing countries seek refuge with the alliance. This makes the 10-member bloc the most attractive economic force when compared to the West.
Also Read: BRICSization: Journal Paper Tests the Concept Using Morris Code
Will BRICS Replace the US Dollar? Brazil’s Vice President Answers
Alckmin confirmed that the BRICS alliance is not aiming against the US and the dollar. He stressed that the bloc has no plans to replace the greenback but is only looking for cheaper alternatives. The VP confirmed they are in discussion about a new settlement option to reduce costs and domination from the West.
“BRICS is not aimed against any country,” or the US dollar, said Alckmin. “Its purpose is to give emerging economies a greater voice and more effective tools within a global system that remains dominated by developed economies,” he said.
The Brazilian Vice President also added that BRICS is looking for an alternative payment option to the US dollar to protect itself from the unfriendly policies emerging from the White House.“Discussions on local-currency settlements and alternative payment arrangements are intended to reduce costs and vulnerabilities. Not to replace the US dollar,” he said.
“At the same time, Brazil maintains a constructive relationship with Washington while deepening South–South cooperation with partners such as India. This dual approach reflects pragmatism rather than confrontation,” he summed it up. In conclusion, BRICS is looking for a new payment option without the US dollar for safety purposes.
No details about the formation of a BRICS currency made it in 2025, posing no challenge to the US dollar. The greenback is still the de facto currency for trade, dominating the international financial markets.
