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What are the advantages of direct currency conversion between Brazil and China?

By Giovana Pignati*

On Wednesday (29), the Central Bank of Brazil (BC) informed that it had signed a memorandum of understanding with the People's Bank of China (PBC) to enable a financial instrument that allows transactions made in yuan to be converted into real, without the need to use the US dollar as an intermediary.

China and Brazil have been major trade partners since 2009.

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