Saturday, June 6, 2015

Argentina, Uruguay to conduct bilateral trade in local currency | Reuters

Argentina and Uruguay will conduct bilateral trade in local currency, replacing the long-held practice of paying each other in U.S. dollars, according to a deal signed on Friday by their respective central banks. "The adoption of this mechanism will allow the de-dollarization of regional commerce to advance, and deepen trade ties within Mercosur," said a statement from Argentina's central bank. The neighboring countries are part of the Mercosur trade bloc, which also includes Brazil, Paraguay and Venezuela.

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