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Brazil And Uruguay Shift From Greenback To National Currencies In Th

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  • Brazil And Uruguay Shift From Greenback To National Currencies In Th

    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
    GraƱa (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

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