Currency War of 2009–11 US, and Financial Times journalists have suggested that if China returned to a fixed peg against the dollar this could re-ignite the Currency War, especially if the move coincided with the US presidential election campaign. Also in March 2012, Brazil's president Rousseff said her country was still experiencing undesirable upwards pressure on her currency, with her Finance Minister Guido Mantega saying Brazil will no longer "play the fool" and allow others to get away with competitive devaluation, announcing new measures aimed at limiting further appreciation for the Real. In June 2012, the "Financial Times" reported that while international trade remained
Gaucho (currency) Gaucho (currency) The Gaucho was the name of a currency intended to be used by Argentina and Brazil in the context of the Argentina-Brazil Integration and Economics Cooperation Program or PICE (Spanish: Programa de Integración y Cooperación Económica Argentina-Brasil) to make interregional payments. It was named after the gauchos typical of both Argentina and Southern Brazil. After the signing of the Protocol Number 20, in 1987, no further action was ever taken by any of the countries to effectively put the currency into use. Mercosur, an economic bloc including Brazil and Argentina, establishing broader economic integration, was created in 1991,