Brazil and Argentina sign trade agreement
Future trade between Brazil and Argentina may not have to be done using the American dollar under new proposals.
In news which may interest people looking to invest in real estate in Brazil, the country’s president Lula da Silva has met with the Argentine president Fernandez de Kirchner to discuss the trade balance between the two nations.
The agreement for transactions to be made in either Brazilian reais of Argentinean pesos is set to come into force on October 6th.
Guido Mantega, minister of finance for Brazil, said this is a "first step" to be taken to establishing a "single currency in the Mercosur".
"This agreement is going to add value to the local currencies, as, up to now, it was necessary to use an intermediary currency (the dollar); this is no longer necessary," he added.
Property Wire has reported that real estate in Nicaragua is currently a tenth of what it costs in other South American countries.
An exception is the current of real estate in Brazil today.
