Gaucho (currency) without any initial plans to establish a common currency. Later, in 1994, Brazil established the Brazilian real, still in use, putting an end to the frequent currency changes that took place in the country throughout the 1980s and the 1990s. On such panorama, the Gaucho plan has been virtually shelved. On 17 July 1987, in the city of Viedma (Río Negro, Argentina), President Raúl Alfonsín of Argentina and President José Sarney of Brazil signed Protocol Number 20 which stated the following: Considering: Viedma, 17 July 1987 Gaucho (currency) The Gaucho was the name of a currency intended to be used
Currency War of 2009–11 a source of contention, concerns over currency war had receded, along with signs that major currencies such as the Renminbi were now much less undervalued than they had been a year previously. Brazil currency had fallen substantially from its peak value against the dollar, allowing Mantega to begin rolling back anti-appreciation measures. In July, the IMF downgraded its assessment of the degree to which the Renminbi is undervalued from "substantially" to "moderately". However, Chinese officials were not pleased, suggesting that their exchange rate is no longer undervalued at all. Whereas in the US, presidential candidate Mitt Romney retains his pledge