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China to trade in yuan and reals with Brazil under new agreement

June 29, 2009 - 6:48am | Banks and internet banks | News
China to trade in yuan and reals with Brazil under new agreement

According to the Sunday reports the central bank governors of China and Brazil have come to the agreement to enable the trade between the two states in national currencies instead of dollar. Talking at the Bank for International Settlement's annual general meeting in Basel People's Bank of China Gov. Zhou Xiaochuan and Banco Central do Brazil President Henrique Meirelles said they would study how to implement the plan.


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