Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Lula says Brazil and Argentina will study common currency for trade

Published 01/23/2023, 12:26 PM
Updated 01/23/2023, 12:30 PM
© Reuters. Brazil's President Luiz Inacio Lula da Silva speaks at a bilateral agreement signing ceremony with Argentina's President Alberto Fernandez (not pictured), during?Lula da Silva?s?first official visit abroad since his inauguration, at the Casa Rosada presid

BUENOS AIRES (Reuters) - Brazilian President Luiz Inacio Lula da Silva on Monday said Brazil and Argentina are studying the creation of a common currency to be used in trades between the two countries in order to reduce dependence on the U.S. dollar.

"Our finance ministers, each with his own economic team, can make us a proposal for foreign trade and transactions between the two countries that is done in a common currency to be built with much debate and many meetings. This is what is going to happen," Lula told reporters alongside Argentina's President Alberto Fernandez in Buenos Aires.

Latest comments

just the beginning, other countries will follow to ditch dollar hegemony
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.