Common Currency Studies are on the Agenda of BRICS Countries

BRICS countries; consists of Brazil, Russia, India, China, and the Republic of South Africa. It is home to 40% of the world's population and covers 1/3 of the world in terms of surface area.
In a statement made by Brazilian President Luiz Inácio Lula Da Silva, it was stated that this issue should be worked on by calling on BRICS member countries to adopt a common currency. In the evaluation made by the analysts on the subject, it was stated that the BRICS member countries have different economic conditions, so integration into the common currency would be difficult regionally.
In a press conference held together with the President of Brazil and the President of Venezuela, he stated that he dreams of a common currency in the BRICS countries and that the use of this common currency will enable its member countries to be freer to do business without being dependent on the US dollar. In addition, he said that he is in favor of Venezuela being included in the BRICS group, that various integration requests are being evaluated, and that this issue will be worked on very soon.
In a statement made by Bloomberg Correspondent Andrew Rosati, he stated that Lula Da Silva's call for a common currency has been for a long time and this process is very difficult. It was stated that the inflation rates among the BRICS countries are very different and in this case, the transition to the common currency would not be possible.
It was stated that Venezuela and Russia, which were requested to join the BRICS Countries, are among the countries subject to sanctions by the USA and other countries, which will complicate the process.