BRASILIA, Jan 23 (Reuters) - The common currency proposal that will be studied by Brazil and Argentina has nothing to do with replacing national currencies, said Brazilian Finance Executive Secretary Gabriel Galipolo on Monday.
In an interview with the TV channel GloboNews, he stated the current low convertibility of the Argentine peso motivates the teams to think today of another form of a unit of account, looking to foster trade between the two countries.
"Today, the risk for Brazilian exporters is convertibility," he said. (Reporting by Marcelo Ayres and Peter Frontini; Editing by Chris Reese)
