Announcement of ending the use of the dollar in trade between China andBrazil; trade will now be conducted in national currencies. According tothe details, the Chinese bank has issued a statement stating that the firsttransaction in national currencies between China and Brazil has beencompleted.
China and Brazil, both members of the BRICS organization, share theimportant goal of eliminating the use of the dollar in their mutual trade.According to the report, China has purchased 43 batches of yuan andconverted them into Brazilian real, which are being used in the port ofQingdao.
As a result, trade transactions between the two countries are now beingconducted in national currencies.
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It should be noted that the Russian banker Andrei Kostin, one of the mostpowerful, has predicted that the dollar’s hegemony is soon coming to an endbecause the value of the Chinese currency, the yuan, is increasing.