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Common Currency for Brazil and Argentina
March 20 , 2023
618 days
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- Brazil and Argentina are starting preparatory work on having a common currency.
- The new currency Brazil suggests called as "sur" (south).
- It could boost regional trade and reduce reliance on the U.S. dollar.
- It would at first run in parallel with the Brazilian real and Argentine peso.
- A currency union that covered all of Latin America would represent about 5 per cent of global GDP.
- The world’s largest currency union, the euro, encompasses about 14 per cent of global GDP when measured in dollar terms.
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