Nations in $30b currency exchange pledge
By Qin Jize in Rio de Janeiro and Zhang Yunbi in Beijing | China Daily | Updated: 2012-06-23 08:02
China, Brazil boost economic bonds
China and Brazil on Friday announced a $30 billion currency exchange, a step toward a broader agreement among emerging economies to pool resources as a bulwark against world financial uncertainties.
The swap, worth the equivalent of 190 billion yuan or 60 billion real, is one of the measures to reinforce financial reserves of the two countries at a time when the global economy is stressed, Brazilian Finance Minister Guido Mantega said.
Photo
