Brazil, Argentina Holding Talks Over Possible Common Currency

Brazilian president-elect Luiz Inacio Lula da Silva drinks during an event with representatives of Brazil's indigenous people at the COP27 climate conference in Egypt's Red Sea resort city of Sharm el-Sheikh, on Nov. 17, 2022. Ahmad Gharabli/AFP via Getty Images

Brazil and Argentina plan to advance talks about a common currency for financial and commercial transactions in an effort to improve economic integration, leaders of the two nations said on Jan. 21.

Brazilian President Luiz Inacio Lula da Silva, who was sworn in on Jan. 1, and Argentine leader Alberto Fernandez shared details about the talks regarding a shared currency in a joint article published on the Argentine website Perfil, CNBC reported.