Original in German
Machine translation
Argentina and Brazil starting from 2007 without dollar
BUENOS AIRES, 13 December 2006 - Argentina and Brazil do not plan to use the US Dollar than intermediary currency for their commercial exchange starting from center 2007 no more. Import export traffic between the largest Mercosur partners is to be completed then directly over the local currencies - Argentine peso and Brazilian material -. The last details are to be clarified at on Friday the taking place conference of central bank of the Mercosur states, are called it from Argentine government circles.
Restaurant economics Felisa Miceli (photo) and its Brazilian colleague Guido Mantega had brought the project in August in rolling. The commercial exchange amounts to at present annual 15 billion US Dollar (U$S). The direct account in peso or material would entail according to expert data the reduction of the transaction costs to the consequence, in addition, a higher demand for the local coins would have.
The central banks of both countries work for some time already on the compensation mechanisms, which are to make the direct account possible of the bilateral commercial stream. Parallel to it the responsible persons prepare also the mechanism of a peso material market for future options.
(© argentinienaktuell.com)
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