Brazil Signing Currency Swap Agreements with All BRICS

 

Brazil and China have signed a Currency Swap Agreement in order to pay for trade transactions in local currencies (the real and the yuan or renminbi).

 

Furthermore, Brazil revealed that similar currency swap agreements were under study with all the members of the BRICS group of nations (Brazil, Russia, India, China and South Africa).

 

On the other side, China have signed similar agreements with Australia, Hong Kong and Japan.

 

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