Argentina and Brazil abolish US dollar in bilateral trade

Today, Cristina Kirchner and Luis Inacio Lula Da Silva signed an agreement for a "future monetary integration," which launches the use of Brazilian and Argentine currency in bilateral trade, instead of the US dollar.

The agreement was signed by both heads of state during a bilateral summit, where the presidents signed other agreements and prepared a joint statement.

The rest of the agreements concerned technical cooperation between state-owned Banco de la Nación Argentina and Brazilian Development Bank BNDES to finance binational investment projects, and the building of power plants.