Lula: Brazil is seeking alternative currencies for trade without confronting the US dollar.

Brazilian President Lula stated that Brazil does not want to confront the US dollar, but rather hopes to find a solution that would make trade not dependent on a single currency. When asked if the current conditions were favorable for the creation of a common currency for the BRICS group of developing countries, Lula said: "What we actually want is to create a way to find a currency or a group of currencies that will allow us to conduct business without relying on a single currency."