Brazil President says common BRICS currency would reduce vulnerabilities

Lula da Silva made the statement at the opening plenary of the BRICS summit in Johannesburg.

Brazilian President Luiz Inacio Lula da Silva said on Wednesday a common currency used by BRICS countries in commercial transactions would reduce their vulnerabilities.

"The creation of a currency for trade and investment transactions between BRICS members increases our payment options and reduces our vulnerabilities," Lula da Silva said at the opening plenary of the BRICS summit in Johannesburg.