---
title: "BRICS Currency Proposal Lacks Consensus Amid Local Trade Developments"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/281749028.md"
description: "BRICS nations have not reached a consensus on establishing a shared currency, according to Brazilian President Lula. Despite Russia and China now conducting 99.1% of their trade payments in rubles and yuan, the idea of a common currency remains unfulfilled. According to NS3.AI, local-currency trade frameworks and a BRICS payment system are expanding, alongside the development of a prototype BRICS Unit. However, India has shown resistance to the concept of a unified currency, while the U.S. dollar continues to dominate global foreign exchange transactions."
datetime: "2026-04-06T10:09:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281749028.md)
  - [en](https://longbridge.com/en/news/281749028.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281749028.md)
---

# BRICS Currency Proposal Lacks Consensus Amid Local Trade Developments

BRICS nations have not reached a consensus on establishing a shared currency, according to Brazilian President Lula. Despite Russia and China now conducting 99.1% of their trade payments in rubles and yuan, the idea of a common currency remains unfulfilled. According to NS3.AI, local-currency trade frameworks and a BRICS payment system are expanding, alongside the development of a prototype BRICS Unit. However, India has shown resistance to the concept of a unified currency, while the U.S. dollar continues to dominate global foreign exchange transactions.

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