The story appears on

Page A3

March 31, 2023

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » News

China, Brazil strike deal to drop dollars

CHINA and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said on Wednesday.

The deal will enable China and Brazil to conduct their massive trade and financial transactions directly, exchanging yuan for reais and vice versa instead of going through the dollar.

“The expectation is that this will reduce costs ... promote even greater bilateral trade and facilitate investment,” the Brazilian Trade and Investment Promotion Agency said in a statement.

China is Brazil’s biggest trading partner, with a record US$150.5 billion in bilateral trade last year.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend