The plan is aimed at boosting regional trade and reducing their reliance on the US dollar, with Buenos Aires suggesting the new currency be called the 'sur', meaning 'south' in Spanish.
abc.net.au/news/brazilian-argentinian-leaders-propose-south-american-currency/101884636The leaders of Brazil and Argentina have penned a joint article, pledging to work towards greater economic integration, including the potential development of a common South American currency.
"We also decided to advance discussions on a common South American currency that can be used for both financial and trade flows, reducing operating costs and our external vulnerability," they wrote. Brazil currently uses the real, which was worth about 27 Australian cents as of Monday afternoon and is the country's eighth currency since 1942.Most European Union member countries use a shared currency, the euro.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lula sacks head of Brazilian army after far-right insurrectionJúlio Cesar de Arruda reportedly stopped police detaining suspected rioters who took refuge outside army headquarters
Read more »
Rising American ends Popyrin’s Open runAustralia’s Alexei Popyrin is out of the Australian Open, falling to young American Ben Shelton in an entertaining third-round clash.
Read more »
One person dead, another in hospital after boat crash south of PerthPolice are searching for a missing person after a fatal boat accident in Mandurah on Saturday night.
Read more »
‘We may have lost the south’: what LBJ really said about Democrats in 1964Bill Moyers was there when Lyndon Johnson made his memorable assessment of the Civil Rights Act’s effects
Read more »