Argentina to bypass dollar in trade with Brazil as USD crunch worsens amid high inflation

Argentine President Alberto Fernández and his Brazilian counterpart, Luiz Inácio Lula da Silva, vowed Tuesday to continue to come up with a mechanism that would allow them to ditch the dollar in trade between the neighboring nations. Argentina's central bank hiked its benchmark interest rate a huge 10 percentage points to 91% on April 28 to tame inflation running at 104% annually. Brazil is Argentina’s largest trade partner and the deal could afford Argentina some breathing room at a time when it is suffering from a shortage of dollars. __________________ ShanghaiEye focuses on producing top-quality contents. Nobody knows SHANGHAI better than us. Please subscribe to us ☻☻☻ __________________ For more stories, please click ■ What's up today in Shanghai, the most updated news of the city ■ Amazing Shanghai, exploring the unknown corners of