Brazil's central bank chief opposes creation of common currency
Recasts with new comments from central bank chief
BRASILIA, June 2 (Reuters) -Brazil's central bank chief Roberto Campos Neto expressed his opposition on Friday to the creation of a common currency, stating that in the era of digitalization it is unnecessary to have a shared currency for its purported benefits.
"That is a very old idea that solves a problem that doesn't exist anymore," he said at an event hosted by Valor Capital Group,
"If you believe in the advance of digital payments and digitalization and tokenization of processes, you don't need a common currency to have the effect in terms of trade and efficiency that a common currency defends, that I don't even know if it is there."
His remarks follow President Luiz Inacio Lula da Silva's recent advocacy for the BRICS group of leading emerging economies to consider adopting a common currency for trading purposes, thus reducing their dependence on the dollar.
Campos Neto emphasized the potential power of digital solutions in providing effective alternatives.
Specifically addressing the proposal of a common currency between Brazil and Argentina, which has also been previously mentioned by the government, he reiterated his opposition.
According to Campos Neto, a common currency would blend the characteristics of both countries, resulting in a mixture of their respective interest rates and inflation, which are currently at very different levels.
"We should have a 'digital' minister, someone should be thinking about digital solutions," he added.
Regarding convertible currency, he stated that it is part of the bank's plans, but emphasized the need for a gradual approach, asserting that the adoption of a currency by other nations should occur as a consequence of other factors rather than being the cause itself.
Campos Neto also said that the country'scentral bank digital currency (CBDC), which is advancing through a pilot phase and is based on tokenized deposits, paves the way for a more digitally-oriented and competitive financial intermediation system.
He defendedthat Brazil's CBDB is much easier to regulate than other forms of CBDCs since tokenized bank deposits will be subject to the same regulations that govern traditional deposits.
Reporting by Marcela Ayres; Editing by Chizu Nomiyama
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
