Brazil is taking steps to devaluate its currency in response to currency manipulation by China
Brazil is taking steps to devaluate its currency in response to currency manipulation by China, the US and some other countries, said Finance Minister Guido Mantega.
China and Brazil signed an agreement to do billions of dollars of trade in their local currencies, as the five-nation BRICS forum of emerging market powers work to lessen dependence on the US dollar and Euro.