Argentine President Cristina Fernandez announced Thursday that Brazil and Argentina will no longer require bilateral trade to be in U.S. dollars, saying trade in their national currencies will increase regional integration and boost economic growth, The Associated Press reported. The change, which takes affect Monday, will eliminate bank fees associated with converting local currencies to dollars and boost profit margins for companies in South America's two largest economies, especially for small- and medium-sized businesses, she said. Trade between the two countries is forecast to exceed US$30 billion this year. Fernandez and Brazilian President Luiz Inacio Lula da Silva signed the agreement in September.
