Argentina and Brazil Swap Currencies

October 9th, 2009 Posted in business, travel

Written by Shanie

As reported by Momento24, the Brazilian and Argentine governments have made a deal in hopes of spurring on trade, “In a continued effort to reduce regional dependence on outside financing, Brazil and Argentina signed Wednesday an agreement to swap 3.5 billion Brazilian reals or 7 billion Argentine pesos  (US$1.9 billion) in their local currencies to support trade between the two countries.”

It will be interesting to see how this will effect things in the future as Bariloche is a major Brazilian tourist destination. The fact that Brazil was also chosen as the next hot spot for the Olympics, may be an interesting component to the mixture as well.

Any opinions or thoughts on the swap?

  1. One Response to “Argentina and Brazil Swap Currencies”

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