Tag: Real
RealBrazilian Real falls to a new three-year low, “positive” for exporters says minister
The Brazilian Real fell to a new three-year low after briefly erasing its decline as the central bank sold currency swap contracts for the second time in three trading sessions, holding two auctions on Tuesday.
Brazil’s Real falls to 2 per dollar, lowest since 2009; government overwhelmed
Brazil’s Real tumbled to 2 per dollar for the first time in almost three years as Finance Minister Guido Mantega said the exchange rate doesn’t worry the government, opening expectations the currency may fall further.
Brazil targets a dollar floor of 1.80 Reais and questions private banks attitude
Having a floor of 1.80 Real to the US dollar is no great thing, but it is a target to sustain said Brazil Development, Industry and Foreign Trade minister Fernando Pimentel referring to the latest announcements to promote Brazilian industry battered by a strong currency and massive inflow of ‘cheap’ imports.
Brazil extends 6% tax on foreign loans and bonds to help weaken the Real
Brazil extended on Monday a 6% tax on foreign loans and bonds issued abroad by local companies to include lending with duration of as long as five years, the third measure taken this month to weaken the Real. Since March 1, the currency has weakened 5.6%.
Brazilian surprise: basic rate down to 9.75%, lowest in years
Brazil’s Central bank on Wednesday surprised analysts by accelerating the pace of interest rate cuts, bringing borrowing costs to 9.75%, below 10% for only the second time on record as it seeks to revive growth.
Brazil growth in 2011, slowest since 2003, but 2 million jobs were created
The Brazilian economy last year registered its second-worst performance since 2003 as higher borrowing costs and a currency that rallied to a 12-year high led it to under-perform emerging-market peers China and India.
Brazil economy rebounds in November boosted by domestic consumer spending
Brazil’s economy grew at its fastest pace in 19 months in November, reversing a three-month contraction, as a recovery in consumer spending helped Latin America’s largest economy shrug off a global slowdown. Yields on interest rate futures rose.
Brazil prepares for primary surplus target with a start of the year spending freeze
The size of an annual start-of-year spending freeze that the Brazilian government is set to announce by early February will offer hints on how far President Dilma Rousseff and her economic advisers want to cut interest rates.
Brazil last year had the second-largest inflow of dollars: 65.2bn
Brazil last year recorded the second-largest dollar inflow in its history, 65.2 billion dollars, up 168% from 2010, with most in the form of foreign investment, the Central Bank said on Wednesday.
After dismal year Brazilian industry expects modest recovery in 2012
Brazilian industry saw 1.8% growth this year, well below expectations, and expansion will be limited to 2.3% in 2012 due to a global economic slowdown, a business group said this week.
