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Agreements could increase the use of the renminbi in Brazil-China trade

By Assis Moreira

Using the Chinese currency renminbi may soon expand transactions between Brazil and China and fuel plans to reduce the dollar's hegemony gradually.

And this comes with two moves.

First, the People's Bank of China, the Chinese Central Bank, announced last week the signing of a memorandum of understanding (MOU) with the Central Bank of Brazil (BCB) on establishing renminbi clearing arrangements in Brazil . . .

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