China and Brazil have agreed a currency swap deal in a bid to safeguard against any global financial crisis and strengthen their trade ties.
It will allow their respective central banks to exchange local currencies worth up to 60bn reais or 190 billion yuan ($US30 billion).
The amount can be used to shore up reserves in times of crisis or put towards boosting bilateral trade.
China is Brazil's biggest trading partner.
The BBC reports the agreement is the latest in a series signed by China with its trading partners.
In March this year, China signed a swap deal with Australia worth up to $A30 billion to promote bi-lateral trade and investment.
Currency pacts were also signed with Hong Kong and Japan.