China and Brazil Strike Deal to Ditch US Dollar for Trade

Published: Mar 30, 2023 14:54
China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said Wednesday.

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

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