Brazil, Argentina to encourage trade, says Haddad; plays down common currency

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Brazilian Finance Minister Fernando Haddad played down the idea of a single shared currency between Argentina and Brazil late on Sunday, saying the countries were looking at ways to stimulate bilateral trade but not extinguish their own currencies. His remarks came after Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez published a joint article saying their aim for greater economic integration included studies of a common South American currency. Haddad, who floated such a possibility in an article last year, said removing trade barriers between the two largest economies in South America could involve using a single currency for commerce, given a lack of U.S. dollars in Argentina.