Brazil And Argentina Are Ready To Stop Using U.S. Dollars To Trade
Monday, September 8, 2008 at 10:49 am Under World News 9 views
Brazil and Argentina are ready to stop using U.S. dollars to trade goods between them.
Brazil’s president tells the Buenos Aires-based newspaper that exports and imports between the two nations will be bought and sold in local currency reals and pesos.
President Luiz Inacio Lula da Silva did not say when the measure would take effect.
Silva says the move will boost bilateral trade, which reached $US17.6 billion so far this year through July.
During that time, Brazil sold more to Argentina than it bought, building a US$3 billion trade surplus.
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