| | |  Business News | September 2008 
Brazil, Argentina Drop Dollar for Bilateral Trade
 Associated Press
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Brasilia, Brazil - 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 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.
Silva and Argentine President Cristina Fernandez plan to sign the deal in Brasilia on Monday. It was first proposed two years ago. |
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