The idea of creating a single currency for BRICS nations is a complex challenge, and it is not something that can happen overnight. In light of recent concerns raised by US President-elect Donald Trump, South African officials have dismissed the idea of a BRICS currency in the near future.

According to South Africa's Department of International Relations and Cooperation, there are no plans within BRICS to establish a shared currency as an alternative to the US dollar. "Recent misreporting has led to the incorrect narrative that BRICS is planning to create a new currency," the agency said, commenting on Trump's threats to impose punitive tariffs.

In late November, the Republican posted on his Truth Social platform, declaring that he would impose 100% tariffs on all countries that support currencies alternative to the US dollar or reject the greenback. Trump stated that any country working against the United States would no longer be able to benefit from American market access.

As noted by the South African Department of International Relations and Cooperation, discussions within BRICS focus primarily on trade between member countries. While the use of national currencies in settlements has been discussed, it has not yet led to concrete action. According to diplomats, this issue does not pose a threat to the US dollar or its dominance.

Earlier, Brazil's foreign ministry dismissed Trump’s remarks as "meaningless and provocative," suggesting that once Trump takes office, he will have to account for the realities of the global economy.

Analysts' speculation about BRICS nations creating an alternative to the dollar has not been backed by official statements. South African authorities have repeatedly denied discussions on de-dollarization, while respected economists attribute this to the lack of necessary economic integration, which makes the introduction of a BRICS currency impossible.