Argentina and Brazil to create single currency

Argentina and Brazil negotiate to create a single currency for both countries, Report informs citing TASS.

According to Globo newspaper, relevant plans were announced at the meeting of Brazilian President Jair Bolsonaro and Minister of Economy Paulo Guedes with Argentina’s business circles in Buenos-Aires.

Such macroeconomic projects were suggested earlier too. The newspaper says that this is related to closeness of political views of the authorities of Buenos Aires and Brazil.

The currency is expected to be named ‘peso real’. Argentina’s currency is peso, Brazil’s is real.