Ex-Brazil governor dismisses plan to ditch dollar

Gustavo Franco, a former governor of the Central Bank of Brazil, has said that proposals for China and Brazil to trade in renminbi and reals rather than dollars are "pure idle talk".

Franco, told Bloomberg, a news agency, on Wednesday: "Replacing the dollar as an invoicing currency for something else doesn't make a lot of sense."

Franco headed the central bank from August 1997 to March 1999.

His comments come after an unnamed central bank official was quoted in the Tuesday edition of the Finan