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NEW YORK — South America is not likely to have a common currency bloc to rival the euro any time soon, analysts said on Monday, despite excited chatter sparked by officials in Brazil and Argentina raising the prospect of a shared tender.
On Monday Brazil’s President Luiz Inacio Lula da Silva and Argentine President Alberto Fernandez said they were in early talks to establish a shared unit of value for bilateral trade, though this would not replace the real or peso currencies.