ICYMI - Argentina and Brazil are discussing a common currency. USD cited as the issue.<p>A common currency between the pair seems very unlikely, but <a href="https://edition.cnn.com/2023/01/23/investing/argentina-brazil-common-currency/index.html" target="_blank" rel="nofollow">the read here</a> is interesting on why its being at least floated as an idea:</p><ul><li>Brazil's President Luiz Inacio "Lula" da Silva and Argentina's President Alberto Fernández ... said they had "decided to move forward with discussions about a common South American currency that could be used for financial and commercial flows ..."</li><li>Brazil's finance minister, Fernando Haddad ... stressed that Argentina's shortfall of US dollars was weighing on trade between the two countries and that government leaders were exploring possible solutions</li><li>Hasnain Malik, head of equity research at Tellimer, said in a research note ... "Brazil and Argentina are a long way away from the convergence in economic policy and performance required to launch [a] monetary union" </li></ul><p>Info via CNN, link above, worth a read if you are interested. </p><p>What would you call such a common currency between the two. Some combination of Pele and Messi? The Pessi? The Mele? I'm sure ForexLive folks can do better in the comments .... </p>
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: ICYMI - Argentina and Brazil are discussing a common currency. USD cited as the issue. (https://www.forexlive.com/centralbank/icymi-argentina-and-brazil-are-discussing-a-common-currency-usd-cited-as-the-issue-20230124/https://www.forexlive.com/centralbank/icymi-argentina-and-brazil-are-discussing-a-common-currency-usd-cited-as-the-issue-20230124/)
forexlive.com