MercoPress. South Atlantic News Agency
Brazil: US dollar pierces R$ 6 barrier
The US dollar closed for the first time above the psychological R$ 6 barrier on another turbulent day in Brazil's markets, Agencia Brasil reported. The local scene continued to reverberate after the spending cut package announced earlier this week by Finance Minister Fernando Haddad, also impacting the stock exchange scene during the day. Read full article
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Disclaimer & comment rules“The US dollar closed for the first time above the psychological R$ 6 barrier”
Dec 02nd, 2024 - 04:05 pm - Link - Report abuse 0Simply the result of the government's incompetence......which has created and allowed an atmoshere of judicial insecurity to take over, overspending (the federal debt has passed R$ 9 trillion, reaching 81% of the GDP), an “ajuste fiscal” (a cut in government expenses) which is a joke - it has reduced essential investments in Education and Public Health, and social benefits, however going nowhere near the exorbitant salaries, privileges and benefits of Federal servants in the 3 branches of government.....not one of the 39 (many useless) Ministries has been eliminated, so everything in Brasília carries on as always, while Brazil goes to the dogs.
Seems to be the beginning of a repeat performance of Dilma's disatrous administration that lead to the biggest recession in Brazil (2014/15) over the last 100 years....
They still haven't learned (and never will) that you won't get different results by doing the same thing over and over again...
Once again, time for building. My neighbors in Brazil think I overpay the mason and his helper. Albeit, at these prices getting skilled labor for a day at the price of inferior help in the US for an hour, I can't help myself. Need it or not, we'll remodel the upstairs of the house in Mossoro.
Dec 02nd, 2024 - 11:03 pm - Link - Report abuse 0Commenting for this story is now closed.
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