South Africa's government has made it clear that there are no plans to develop a common BRICS currency, in response to recent speculation sparked by comments from US President-elect Donald Trump.

Trump's threat to impose 100% tariffs on BRICS nations that support an alternative to the US dollar has raised concerns among member countries.

The Department of International Relations and Cooperation (Dirco) has stressed that discussions within BRICS are focused on promoting trade among member states using their own national currencies. The aim of this statement is to address the misinformation surrounding the potential creation of a new currency within the bloc.