26 March 2013

BRASIL / CHINA / USA / CURRENCIES : Annual $30 Billion Currency Swap...Will Exclude $USD.

       China and Brasil...2 powerful emerging nations that have long complained about the dominant role of the USA's dollar in trade...have agreed to swap $30 billion annually of their currencies...to protect themselves regardless of global problems.
       The deal will last 3 years...and was signed before the 5th BRICS Summit in South Africa.
       In 2012...their trade was valued at $75 billion. 
      China has signed similar deals with Australia...and Argentina.