Economia
Brazil and China will sign an agreement in the coming weeks to swap as much as $30 billion in their two currencies, Brazil Finance Minister Guido Mantegasaid.
The currency swap, worth 60 billion reais or 190 billionyuan, will be the first step in a broader agreement with Russia, India and South Africa to allow members of the so-called BRICS group of emerging markets to pool resources to better weather the global financial crisis, Mantega told reporters yesterday in Rio de Janeiro.
The agreement, which was discussed this week by leaders of the BRICS at a Group of 20 summit in Mexico, marks another step in a deepening trade between the world’s two largest emerging markets. China overtook the U.S. in recent years to become Brazil’s biggest trading partner, though Mantega said yesterday that the $76 billion in bilateral commerce last year, 17 percent of Brazil’s total, is just the beginning.
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Economia
"Currency swap" entre Brasil e China
Brazil-China to Sign $30 Billion Currency Swap Agreement Soon
By Joshua Goodman - 2012-06-21T23:07:01Z
The currency swap, worth 60 billion reais or 190 billionyuan, will be the first step in a broader agreement with Russia, India and South Africa to allow members of the so-called BRICS group of emerging markets to pool resources to better weather the global financial crisis, Mantega told reporters yesterday in Rio de Janeiro.
The agreement, which was discussed this week by leaders of the BRICS at a Group of 20 summit in Mexico, marks another step in a deepening trade between the world’s two largest emerging markets. China overtook the U.S. in recent years to become Brazil’s biggest trading partner, though Mantega said yesterday that the $76 billion in bilateral commerce last year, 17 percent of Brazil’s total, is just the beginning.
Mais
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- Banco Central Do Brasil Compra Ouro
The IMF reported Wednesday that the Banco Central do Brasil has increased its gold holdings for the second straight month, to the highest level in 11 years, as Latin America’s biggest economy looks to diversify its vast international reserves. Brazil’s...
- O Retorno Do Dragão
O futuro da Bovespa decide a China. Mais cedo ou tarde a China vai provocar o collapso do real e da Bovespa: "... Foreign inflows to Brazil totaled $28.7-billion in 2009. In order to defend the US-dollar from spiraling lower, the BoB bought $24-billion...
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Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report China has taken yet another step to transform the yuan into the dominant global currency, a long-term initiative that could ultimately dethrone the dollar as the world’s top unit...
- Especulação Errada
Nov. 4 (Bloomberg) -- Aracruz Celulose SA, the world's biggest eucalyptus-pulp maker, reached an agreement with banks to unwind 97 percent of its wrong-way currency derivatives, leading to a loss of $2.13 billion. Banks will negotiate terms to restructure...
- Política Monetária
Oct. 9 (Bloomberg) -- Brazil, the world's biggest exporter of beef, sugar and coffee, may ease bank reserve requirements for a fourth time in two weeks to free up lending for farmers, Agriculture Minister Reinhold Stephanes said. Brazilian banks need...