Ex-Brazil governor dismisses plan to ditch dollar

Gustavo Franco, a former governor of the Central Bank of Brazil, has said that proposals for China and Brazil to trade in renminbi and reals rather than dollars are "pure idle talk".

Franco, told Bloomberg, a news agency, on Wednesday: "Replacing the dollar as an invoicing currency for something else doesn't make a lot of sense."

Franco headed the central bank from August 1997 to March 1999.

His comments come after an unnamed central bank official was quoted in the Tuesday edition of the Financia

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.