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BRAZIL AND URUGUAY SHIFT FROM GREENBACK TO NATIONAL CURRENCIES IN THEIR TRADE
YEREVAN, December 2. /ARKA/. As from Monday December 1, Brazil and
Uruguay are making and collecting bilateral trade payments in local
currencies based on the agreement signed on November 2 by the heads
of the countries' central banks Alexandre Tombini (Brazil) and Alberto
Graña (Uruguay).
The idea is to strengthen inter-regional trade, RIA Novosti reports.
According to Professor Carlos Francisco Teixeira da Silva from
Federal University of Rio de Janeiro, it is a step forward and the
best opportunity for South American countries to get rid of old
US-imposed economic mechanisms.
If successful, this practice will be used also by Paraguay, Bolivia
and Venezuela, da Silva said. -0--
http://arka.am/en/news/economy/brazil_and_uruguay_shift_from_greenback_to_nationa l_currencies_in_their_trade/#sthash.YHuiOc4W.dpuf
YEREVAN, December 2. /ARKA/. As from Monday December 1, Brazil and
Uruguay are making and collecting bilateral trade payments in local
currencies based on the agreement signed on November 2 by the heads
of the countries' central banks Alexandre Tombini (Brazil) and Alberto
Graña (Uruguay).
The idea is to strengthen inter-regional trade, RIA Novosti reports.
According to Professor Carlos Francisco Teixeira da Silva from
Federal University of Rio de Janeiro, it is a step forward and the
best opportunity for South American countries to get rid of old
US-imposed economic mechanisms.
If successful, this practice will be used also by Paraguay, Bolivia
and Venezuela, da Silva said. -0--
http://arka.am/en/news/economy/brazil_and_uruguay_shift_from_greenback_to_nationa l_currencies_in_their_trade/#sthash.YHuiOc4W.dpuf