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Brazil, Argentina drop dollar for bilateral trade

Published:

Brazil and Argentina are ready to stop using U.S. dollars to trade goods between them.

Brazil's president tells the Buenos Aires-based Clarin newspaperthat exports and imports between the two nations will be bought andsold in local currency — reals and pesos.

President Luiz Inacio Lula da Silva did not say when the measure would take effect.

http://www.iht.com/articles/ap/2008/09/07/business/LA-Brazil-Argentina.php

It was first proposed two years ago.

This involves more than these two nations. A bit of background info from 2007:

http://www.iht.com/articles/2007/10/22/business/bank.php

Entry #158

Comments

1.
Comment by pumpi76 - September 9, 2008, 7:11 am
Good...I don't know why countries don't use the dollar...
How old fashion is using 50 cents coins and nickles or so it looks...
2.
Comment by pumpi76 - September 9, 2008, 10:12 pm
my bad i meant to say: Not good..

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