April 1, 201610 yr Active Members Almost every news source concerning Brazil discusses Brazil's high unemployment and economic crisis plus unhappiness of the current political party in office, including Brazil's president, Dilma Rousseff. Despite the above facts, the Brazilian real continues to increase in value against the dollar and other major currencies. Around the first of the year, the exchange rate was more than 410 to 1 U.S. dollar. Today, the exchange rate closed at 355 to 1 U.S. dollar. Each economist has a different opinion for why this strange contradiction is occurring with the Brazilian real. The increase of more than 13% in value of the Brazilian real since the first of this year is quite remarkable. I remember several years ago when we got 160 to 1 U.S. dollar. Even though our money is worth more than 13% less than it was at the beginning of the year, Brazil is still a great bargain and a fun place to visit.
April 6, 201610 yr Active Members It's very interesting that the Real is gaining on other currencies especially when there seems to be NOTHING happening in Brazil to inspire any confidence! I had thought that the Reals gains on the GBP £ were to do with Britain's planned referendum to leave the European Union - but it seems not to be the case - given the gains on the USD as well.
April 6, 201610 yr Active Members I think they are artificially working to improve the rate so try and save Dilma's presidency.
April 7, 201610 yr Active Members I think they are artificially working to improve the rate so try and save Dilma's presidency. It's also about saving face for the Summer Olympics. After that, the crash.
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