Janet Yellen defended the global dominance of the dollar after BRICS leaders questioned the outsized role of the world’s premier reserve currency in global trade.
- South Africa’s president Cyril Ramaphosa appeared to back calls from Brazil’s president Luiz Inácio Lula da Silva to review their reliance on the greenback at a finance summit in Paris on Friday.
- Brazil has advocated switching to trading in domestic currencies and other alternatives.