Get More For Your Dollar in Brazil
February 12th, 2009The Brazilian Real Loses Steam Against the US Dollar
If you could think of a good enough reason to visit Brazil for Carnival we’ve found a great one for you now, as if the gorgeous people and World class beaches werent enough.
Feb. 10 (Bloomberg) — Brazil’s real fell the most in more than three weeks as investors speculate the U.S. economic stimulus plan may fail to bolster demand for Brazilian exports and local financial assets.
The currency declined 1.4 percent to 2.2916 per U.S. dollar at 2:12 p.m. New York time, after most trading in Brazil had ended, from 2.2589 yesterday. It fell the most since Jan. 14. The real has weakened 30 percent in the past six months.
“We just don’t know if that plan will be enough,” said Luiz Carlos Barroso Simao, partner at LCS Consultores, an asset- management firm in Rio de Janeiro. “Volatility in our markets is absurd; you got to have nerves of steel to invest today.”

