View Full Version : Real vs Dollar and other currency issues
Pages :
1
2
3
4
5
[
6]
7
8
Exec Talent
08-14-09, 18:11
In case you missed it.
http://www.bloomberg.com/apps/news?pid=20601087&sid=axQX_ypxz3fg
In case you missed it.
http://www.bloomberg.com/apps/news?pid=20601087&sid=axQX_ypxz3fg
All economical signals for Brazil are pointing to the same direction, up ! But in my opinion in emerging markets and specially South America politics plays a very importnat role. A little ploitical instabiity can destroy an emerging market currency and economy (this is always taken into account in financial quant/risk departments to rate products, hence higher risk).
Now I have no idea about Brazil's politics, perhaps those in the know can air their view, life after Lula ...! When is the election, etc. .... !?
Exec Talent
09-01-09, 14:46
This from Bloomberg:
http://www.bloomberg.com/apps/news?pid=20601087&sid=auGWGWlnohNo
How many people do you know who are underemployed? How many businesses have you seen close in the last two months? Do not believe the crap the government is shoveling your way.
Wishful thinking a recovery does not make.
- Yoda
This from Bloomberg:
http://www.bloomberg.com/apps/news?pid=20601087&sid=auGWGWlnohNo
How many people do you know who are underemployed? How many businesses have you seen close in the last two months? Do not believe the crap the government is shoveling your way.
Wishful thinking a recovery does not make.
- YodaWait till all the foreclosures start hitting the markets in the next few months. It will be a poison pill in the real estate sector. Many banks held off on them hoping the gov't mortgage modification programs would help. Now they are moving them through - will crush home prices further even if they extend the November first time buyer credit deadline.
The Cash for Clunkers and Home Buyer Credit are just band-aids that come at huge costs. Clunkers made people jump and buy cars they may not have needed and borrowed from future spending.
Yeah, the gov't is trying desperately to get us to believe the turnaround is near. They have a lot invested in it.
As of today, Real went down to R1.91 vs. 1.00USD
Hope this goes back up to 2-1!!
Geo
All economical signals for Brazil are pointing to the same direction, up ! But in my opinion in emerging markets and specially South America politics plays a very importnat role. A little ploitical instabiity can destroy an emerging market currency and economy (this is always taken into account in financial quant/risk departments to rate products, hence higher risk).
Now I have no idea about Brazil's politics, perhaps those in the know can air their view, life after Lula ...! When is the election, etc. .... !?Next year. Read up on Lula and seems like he has little education background. Is that a good or bad thing during time economic reccesion and reform? I see the same thing that happen in US with the credit industry happening in Brazil. Brazilians are borrowing and consuming more than they can afford. Also learn some things about the financial institutions there, they have more methods of creative financing than the US it seems. We'll see in the next few years.
Exec Talent
09-04-09, 17:51
JBS SA (Brazilian company), the world’s largest beef producer, may buy bankrupt poultry company Pilgrim’s Pride Corp. (US company).
http://www.bloomberg.com/apps/news?pid=20601087&sid=adTG3gPWKcSY
Friends, who three years ago questioned why I was investing in Brazil, are asking different questions today -- like is it too late to get in?
A lot of people don't like them, but use my credit union ATM card all the time. I don't get charged any fees all over the world, or if there is a fee, which is rare, the credit union will credit it back to you. Also, you get the exchange rate at that time when you use the card.
Exec Talent
09-08-09, 18:58
The Dollar has fallen to the lowest level against the Euro this year; around 1.45. The gap between the Euro:BRL, USD:BRL exchange used to be around .65 and now it is .82 with the USD:BRL at 1.82.
What does this mean for an American traveling to Rio in search of the best for the least? Nothing good since not only do you now get fewer Reais for your dollar, but also your relative buying power compared to your European brethren has taken a significant hit.
Jamaicanceo
09-10-09, 17:52
Anyone interested in changing money got to Blame it on Rio Travel on Rua Xavier da Silveria.(right off Miguel Lemos) Guys name is Bobby, super guy, bring in boxes of Bounce from the States for him. He has stacked washers there also for those who need to wash the clothes. Great service. Changed 3,000USD today, no problem, gave me 1.85 as well.I like doing business with Blame it on Rio 4 Travel as well. Bobby is an American who puts ethic first, and not if you're a gringo or not.
Today I changed 1 euro to 2,72 reais.
Best price in the agency travels close to praia lido, the worst price however was 1 euro 2,65......and yesterday at airport, just to make you understand how bandits they are, 1 euro 2,40 reais.
Funny enough that I ask how much they change 1 euro and when I say I have purple bill one single banknote 500 euro, the change rate is always the same.....am i wrong or they should change a bit better when it is about 500 euro in one time ?
Funny enough that I ask how much they change 1 euro and when I say I have purple bill one single banknote 500 euro, the change rate is always the same.....am i wrong or they should change a bit better when it is about 500 euro in one time ?
500 euro bills always gave me better rate.
Misinformation
09-14-09, 04:21
Brazil has always had more creative financing. Go to any shopping mall. Buying a 400R cell phone? They say 11x40R or something like that. This weeks Economist says Brazil has an 8.0% unemployment rate. Compare to Sweden 7.9%. Get real. Does putting cardboard on your car window count and waiting to collect 5R count as employment?
Next year. Read up on Lula and seems like he has little education background. Is that a good or bad thing during time economic reccesion and reform? I see the same thing that happen in US with the credit industry happening in Brazil. Brazilians are borrowing and consuming more than they can afford. Also learn some things about the financial institutions there, they have more methods of creative financing than the US it seems. We'll see in the next few years.
JBS SA (Brazilian company), the world’s largest beef producer, may buy bankrupt poultry company Pilgrim’s Pride Corp. (US company).
http://www.bloomberg.com/apps/news?pid=20601087&sid=adTG3gPWKcSY
Friends, who three years ago questioned why I was investing in Brazil, are asking different questions today -- like is it too late to get in?Exec Talent,
Nice heads up on the deal that was completed today:
http://www.marketwatch.com/story/brazils-feeling-its-protein-2009-09-16
Devilspinkick
09-17-09, 13:10
When I arrived in town in Rio yesterday the exchange rate was US$1 to R$1.8 and I figured that for the greenbacks I planned to exchange I would likely get a rate of R$1.75 or worse. But to my surprise when I went to a cambio in Copacabana they offered me a rate of R$1.86! Of course I jumped at the chance to exchange at that rate. Today the rate (per XE.com) is R$1.79.
I don´t know why they gave me such a favorable rate. Maybe they liked my ruggedly good looks (maybe not). Yet I´m not complaining. BTW - it was Universal Cambio on N.S. Copacabana. Just a few blocks south of the Copacabana Palace. I can be assumed that YMMV.
- DSK
Exec Talent
09-17-09, 21:51
Exec Talent,
Nice heads up on the deal that was completed today:
http://www.marketwatch.com/story/brazils-feeling-its-protein-2009-09-16
I hope it helped a few people to get ahead of the curve on that one. I try.
One thing about Brazil, as I have mentioned before, that has got me worried, is domestic inflation. If the price of bread, milk, rice, beans and other staples hyperinflate, then what has gone up will come tumbling down. Not that there are not ways to make money from that movement as well, it just would not be good for Brazil.
Exec Talent
09-18-09, 14:58
Anyone who believes the government's claims that the US economy is in recovery is smoking something. If they look out their door in DC, sure things look fine because of all the government workers who still have jobs. Talking with people around the US, tells a different story. People are out of work, scared and it does not look like they will be getting a similar paying job soon.
The relative buying power of the EUR:USD gap keeps growing. It now is at .85 Reais from .82 just a few days ago. Meanwhile the BOVESPA is approaching 61,000.
Tip of the iceberg:
http://news.yahoo.com/s/nm/20090918/us_nm/us_usa_economy_jobless
http://finance.yahoo.com/news/42-states-lose-jobs-in-August-apf-1171568305.html?x=0
Anyone who believes the government's claims that the US economy is in recovery is smoking something. If they look out their door in DC, sure things look fine because of all the government workers who still have jobs. Talking with people around the US, tells a different story. People are out of work, scared and it does not look like they will be getting a similar paying job soon.
The relative buying power of the EUR:USD gap keeps growing. It now is at .85 Reais from .82 just a few days ago. Meanwhile the BOVESPA is approaching 61,000.Agreed. 70% of US economy is consumer spending and no jobs = no or cautious spending. Need to look behind the #'s on all recent positive reports. Increased spending was cash for clunkers (which borrowed from future spending) and increased cost of gas at the pumps. Increase in housing start permits is for apartment housing. Meanwhile, residental foreclosures still looming large (only meaningful uptick was the $8k first time homebuyers credit which was meaningless as most would have bought anyway) and commercial real estate will melt down soon. But those that got the $8k credit bought furniture - all free on us hard working taxpaying existing homeowners. This deficit will come back and haunt us.
Today oanda gives 1 usd get 1,80 reais, i am back right now, where i got 1usd=1,87 reais, so is it good oanda or i got even better change rate ?
Exec Talent
09-18-09, 18:16
Today oanda gives 1 usd get 1,80 reais, i am back right now, where i got 1usd=1,87 reais, so is it good oanda or i got even better change rate ?
It is all a matter of supply and demand. There are times when the cambios will give a better rate than ATMs. Keep in mind with ATMs a lot depends on fees to determine the true rate you are getting.
As to why the cambios might be giving an above market rate, it is because they need Dollars or Euros. Keep in mind that there is an underground economy most tourists do not see. In my experience the guys running these cambios are pretty savvy. Whatever rate they are giving, there is a reason.
....As to why the cambios might be giving an above market rate, it is because they need Dollars or Euros....
Thanks....so a good advice, could be next time to bring half usd and half euro, check oanda to know the daily rate and then to follow the best offer between these 2 currency they are able to give you ?
p.s. I can have usd with almost no commission at all in my home town,that's why I think it could be works.
Exec Talent
09-20-09, 14:50
The best advice is to be aware of the effective ATM rate and www.oanda.com rate (rather than www.xe.com which is more up to the second rather than day). Stop at a few cambios to get an idea of the local exchange rate. Keep in mind that some cambios will give you their best rate the first time you ask because they get tired of haggling. Others will start you out low with some upside. That is why you want to visit a few. Keep in mind that they want large bills in good shape.
Calculating your net or effective ATM exchange rate example(USD:BRL):
You will be asked how many Reais you wish to withdrawal.
R$1000 == $555.56 = 1.80 exchange rate
Bank Fee........5.56
Bank Fee........3.00
Actual.......$564.12 = 1.77 effective exchange rate
Assumptions in the above example are that your bank charges a 1% fee on international transactions and a fixed $3.00 per transaction fee for using another bank's ATM. You also may be charged a fee by the bank whose ATM you are using. The above example is for illustrative purposes only. Recently banks have increased many of their fees.
So, you would compare the 1.77 to what the cambios are offering to determine which is the better option. Also, keep in mind often banks will limit the amount of your daily withdrawal so you still might need to go to a cambio. In which case, often the more you exchange, the better the rate.
In cambios, larger bills and larger amounts exchanged get the best rates so it might make sense for a few guys to pool their funds and do one larger exchange rather than a number of smaller ones. However, always keep safety in mind. Thieves know you are at the cambio and ATM to exchange money and that you will be walking away with it. Be aware of your surroundings. It might make sense for you to have a trusted cab waiting for you when you exit the cambio or ATM.
At ATMs, examine the card slot closely before inserting your card. In Rio, thieves have been known to superglue the slots on machines to force you to use a certain machine. If you see that, go to a different bank. Always use the machine as far away from the street as possible and be sure to cover up when entering your PIN. Do not allow anyone, including a bank employee to see your PIN.
I hope it helped a few people to get ahead of the curve on that one. I try.
One thing about Brazil, as I have mentioned before, that has got me worried, is domestic inflation. If the price of bread, milk, rice, beans and other staples hyperinflate, then what has gone up will come tumbling down. Not that there are not ways to make money from that movement as well, it just would not be good for Brazil.Inflation is endemic in brazil.- you cannot get around it (other than owning real estate). Watch the prices increase automatically every January First. Maybe it's a way to keep the non-plutocratic class from accumulating capital, don't know. At least there are some attractive interest yields once you get the perm visa, but don't expect to outrun the general built-in 'inflation rate.'.
Exec Talent
09-24-09, 11:22
Inflation is endemic in brazil.- you cannot get around it (other than owning real estate). Watch the prices increase automatically every January First. Maybe it's a way to keep the non-plutocratic class from accumulating capital, don't know. At least there are some attractive interest yields once you get the perm visa, but don't expect to outrun the general built-in 'inflation rate.'.
It is not the January price increases I am concerned about. I watched a liter of milk go from R$2.19, R$2.29, R$2.39 to R$2.75 in a very short time. Checking several supermarkets it was about the same across the board. Naturally I follow the information presented on sites like this one, but often my own survey data is inconsistent.
http://www.procon.sp.gov.br/categoria.asp?id=64
Why is this of concern? Think about it in terms of what is going on in the US right now. People are not spending even though retailers are discounting like crazy. The government injected money into the economy to spur spending. Now imagine that prices of basic goods start rising. Money goes toward staples rather than discretionary spending. Food and not big screen TVs. It can kill an economy (or the recovery of one) just like that.
Think again about the US economy. Housing prices in many markets rose out of control which drove up the cost of building materials (the Chinese had something to do with this as well - different story, different day). Prices reached levels which outstripped income. Banks got creative to put people into homes (at the market price) there was no way they could afford. Boom then bust.
Inflation also has a significant impact on tourism and crime. In my opinion, so goes inflation, so goes Brazil.
It is not the January price increases I am concerned about. I watched a liter of milk go from R$2.19, R$2.29, R$2.39 to R$2.75 in a very short time. Checking several supermarkets it was about the same across the board. Naturally I follow the information presented on sites like this one, but often my own survey data is inconsistent.
http://www.procon.sp.gov.br/categoria.asp?id=64
Why is this of concern? Think about it in terms of what is going on in the US right now. People are not spending even though retailers are discounting like crazy. The government injected money into the economy to spur spending. Now imagine that prices of basic goods start rising. Money goes toward staples rather than discretionary spending. Food and not big screen TVs. It can kill an economy (or the recovery of one) just like that.
Think again about the US economy. Housing prices in many markets rose out of control which drove up the cost of building materials (the Chinese had something to do with this as well - different story, different day). Prices reached levels which outstripped income. Banks got creative to put people into homes (at the market price) there was no way they could afford. Boom then bust.
Inflation also has a significant impact on tourism and crime. In my opinion, so goes inflation, so goes Brazil.All true so far as it goes for the US. This model points to ultimately a period of deflation. Or, in terms of global economy, a race to the bottom for the poor, tired American consumer. Now, where's the line forming to bank in other currencies? For those of us who remember Brazil ca. 1989 and until Lula time, they were the good, old days, weren't they?. Nothing wrong with inflation when you're holding the harder currency.
It is not the January price increases I am concerned about. I watched a liter of milk go from R$2.19, R$2.29, R$2.39 to R$2.75 in a very short time. Checking several supermarkets it was about the same across the board. Naturally I follow the information presented on sites like this one, but often my own survey data is inconsistent.
http://www.procon.sp.gov.br/categoria.asp?id=64
Inflation also has a significant impact on tourism and crime. In my opinion, so goes inflation, so goes Brazil.
Another factor in inflationary trends, is that 2010 is an election year and inflation will come along with that as well. There is a tendency to try and hide any inflationary trends until the election is over and after that inflation goes sky high. The raise for the salario minimo and bolsa familia, have already been anounced and all prices will rise accordingly or even more in the near future.
http://www.agenciabrasil.gov.br/noticias/2009/09/01/materia.2009-09-01.8253316598/view
http://www1.folha.uol.com.br/folha/brasil/ult96u603269.shtml
Exec Talent
10-01-09, 15:48
According to Forbes, the 400 wealthiest Americans lost $300 billion of net worth in the past year. Many of them are tied to corporate stocks they cannot sell (Gates – Microsoft, Buffet - Berkshire), but still it is indicative of the impact of the recession.
The US government wants you to believe that the economy is in recovery. The reason is simple. If you believe it then you will feel more comfortable spending which will indeed result in a recovery. However, that is not what is happening. People are not spending they are paying off credit cards and saving because they fear for their jobs.
Banks have raised fees in every possible area and are not lending. The commercial real estate market in many parts of the US is so bad it will take years to recover.
Economists I trust, tell me that next year is going to be a very difficult year for governments because of a significant reduction in tax revenues. While in DC recently I was amazed at how it seems to have escaped the recession. Then I realized that unlike in many parts of the US, government workers had not lost their jobs. Business as usual there. That may change soon.
If market forces have their way (hard to predict in this era of government intervention) then I do not see much of an upside for the Dollar against the Real. Exchange now 2.58 EUR, 1.78 USD.
Update: Please do not blame me for the large drop in US markets today. I am just calling it as I see it.
I wonder if Real looses some value if Rio doesn't get the Olympics tomorrow !? Well, more of a wishfull thinking really, £ is even lower than it's support of R2.95 last year (around R2.83 now!), terrible ...
Now that Rio has officially received the 2016 Olympics, I would expect not only the Real to get even stronger but also the Brasilian economy strengthening even more as the country will become even more attractive for foreign investments. I can very easily see a parity between the US$ and the Real by 2014-15, specially if one is to go by the way the Brasilian and American economies have been doing for the past 3-4 years and their respective currencies. I sure as hell I'm wrong, but it's looking like wishful thinking at this time.
I'm very happy for Brasil as they truly deserve it, it's about time or them to finally stop being the eternal country of the future and actually be the country of the present. Of course, should that happen, then Brasil will become prohibitively expensive to a lot of budget minded visitors/mongers. However, even if Brasil were to become as expensive as North America (which in many aspects, it already is; in a recent global survey about the cost of living in major cities around the world, the study revealed that the cost of living in NY and SP are about the same; now throw in an ever increasing Real and ever sinking $, then SP should become more expensive than NY in the next few months), I among many others in here and elsewhere that come to Brasil for other reasons than just the girls will still return no matter what as I truly love Brasil as a whole.
Salve o Rio de Janeiro!
Salve o Brasil!
Exec Talent
10-07-09, 12:51
From the AP:
http://news.yahoo.com/s/ap/20091006/ap_on_bi_st_ma_re/us_wall_street
Stock investors cheered the drop in the dollar because it boosts corporate profits by making U.S. goods cheaper to overseas buyers. Companies can also get a bump in profits when they convert sales made in foreign currencies to dollars. The dollar has been falling for months so that added to expectations for corporate profit reports.
"The reality is that a weak dollar right now is beneficial to us because it's driving export volumes to foreign economies that are doing better and it's going to result in currency gains," Orlando said.
For those with a little time on your hands, trend the Brazilian Global bond -- currently priced at 118.360 with a yield of 3.96.
I read about Santander today floating it's Brazil local branch raising US$8bln, biggest IPO since March 2008, apparantly the rush of investors was such that some reckon it might have effected the (against) USD vs (for) Real rate.
As I'm heading that way next week, I'm hoping USD might have a short rebound as this deal is done and dusted, what a rush though....I'm sure those who got some shares will profit handsomely.
Read towards the end here: http://www.brazzilmag.com/content/view/11284/1/
On BBC: http://news.bbc.co.uk/1/hi/business/8294339.stm
Look at this ETF on Brazil's market, what a beauty (I wish I had put some money on it instead of just looking at it the last few months):
http://www.iii.co.uk/investment/detail?type=chart&display=chart&code=cotn%3ALBRZ.L&it=le&timeframe=1y&index=&versus=&linetype=line&Go=Plot+&overlay=&overlay2=&overlay3=&overlay4=&indicator=&indicator2=&indicator3=&indicator4=&chartwidth=500
(I think it just about beats any other stock/bond/commodity/currency chart in the period !!!)
Exec Talent
10-08-09, 14:49
U.S. Retail Center Vacancies Rise to 17-Year High
Vacancies at neighborhood and community shopping centers increased to 10.3 percent, the highest level since 1992, from 8.4 percent a year earlier, New York-based Reis said today. Vacancies at regional and super-regional malls rose to 8.6 percent from 6.6 percent a year earlier, a high for this decade.
“Until we see stabilization and recovery take root in both consumer spending and business spending and hiring, we do not foresee a recovery in the retail sector until late 2012 at the earliest,” Victor Calanog, Reis research director, said in a statement.
Full Article:
http://www.bloomberg.com/apps/news?pid=20601087&sid=az4uDHLBLGis
Unfortunately, these numbers are way off. Closer to the truth is 15-20%. Commercial office space in many markets about the same.
Wal-Mart keeps getting better as does Amazon. Bricks and Sticks stores with Clicks not only will get sales and price pressure from Wal-Mart at their physical locations, Amazon will do the same to them virtually.
NEW YORK (Reuters) - U.S. housing prices may still fall more than 10 percent, killing an incipient recovery, as demand from first-time home buyers fades, leading economist Nouriel Roubini said on Thursday.
Roubini, one of the few economists who accurately predicted the magnitude of the financial crisis, said massive losses in commercial real estate loans will add to the problem, forcing banks to raise more capital.
"The stress is moving from residential mortgages that are still in deep trouble, to commercial real estate, where they are just starting to recognize that they're going to have massive, massive losses," Roubini of RGE Global Monitor told reporters after a presentation for a World Economic Forum report on the global financial system.
U.S. home prices rose for the third straight month in July, raising hopes the market is stabilizing after a three-year plunge.
A first-time buyer credit of $8,000, which is set to end on November 30, has jump-started housing activity this year and has helped reduce a massive inventory of unsold homes.
While the number of unsold houses may have bottomed out, prices are poised to fall further, increasing pressure on the economy again, Roubini said.
One of the main risks next year may be from losses on some $2 trillion in outstanding commercial real estate loans, the economist predicted.
"Half of this is in medium-sized and smaller banks, and even in the larger ones. Most of these losses are not recognized because they're keeping the loans at face value on their books," he said, forecasting that U.S. and U.K. banks will need to raise more capital when those writedowns are made.
Still, Roubini sees a greater chance of a U-shaped economic recovery in developed economies, with a 20 percent to 25 percent chance of a double-dip.
"If it's a U-shaped recovery, China, Asia, and emerging markets will do fine. If there is a double dip, the consequences will be severe for everybody."
Azn Safado
10-15-09, 02:40
Interesting article here. I wonder where the USD/BRL exchange rate will be in 6 months time. Could put a serious hurtin' on Carnaval goers on its way down. Hell, it's dropped from 1.84 to 1.69 in the 4 weeks since I left Rio:
http://www.insidefutures.com/article/116744/U.S.%20Dollar%20Weakness:%20Get%20Used%20to%20It.html
Is this policy really working? Printing money and keeping interest rates down is the way to go?
"There was a headline in the Wall Street Journal on October 9, 2009, that said, “U.S, Stands by as Dollar Falls.” Why would the U.S. encourage a weak dollar policy? In my opinion, because it’s working. Exports are going up, and imports are going down. The balance of payments in the states is getting back to levels seen at the turn of the century. You have to get the economy back to a place where it can accelerate, and the weak-dollar policy seems to be doing that. I think we will see a continued weak U.S. dollar for the next six months, at least until we can get through these tough times."
Until the economy recovers? By then could the USD/BRL exchange be close to 1-1?
"...There are always factors that could boost the U.S. dollar, but you have to look at the big picture. The U.S. seems to be better off right now with a weaker currency; it allows them to get their house back in order, to get the markets back on track. I think the Federal Reserve is likely to sit back and watch the dollar weaken, until the economy recovers."
Euro in a slower decline vs the Real
"The euro has seen a strong uptrend since the start of the year, and it’s not necessarily because the euro region has been spectacular. But as long as the U.S. dollar remains weak, the euro should benefit, and I think the euro should get to the mid- to-high $1.50 range by the end of the year.
A compelling reason to be bullish the euro can be seen in the World Central Bank Index. Central banks have been consistently holding fewer and fewer U.S. dollars. In 2001, the holdings dominated in U.S. dollars were up to about 73 percent. Right now, that figure is at 63 percent. The euro is becoming a very comfortable currency in the eyes of the international community. It’s now been around 10 years, and they trust it. I think we’ll see the trend continue, and demand will increase for the euro currency and decrease for the U.S. dollar."
From Bloomberg: "The real is among “the most overvalued currencies” in the world, Thomas Stolper, a currency strategist at Goldman Sachs Group Inc., said in a call today with clients."
The full article is here: http://www.bloomberg.com/apps/news?pid=20602096&sid=aPDT95ag2Zxs
Azn Safado
10-16-09, 02:54
From Bloomberg: "The real is among “the most overvalued currencies” in the world, Thomas Stolper, a currency strategist at Goldman Sachs Group Inc., said in a call today with clients."
The full article is here: http://www.bloomberg.com/apps/news?pid=20602096&sid=aPDT95ag2Zxs
"Galhardo expects the dollar to recover and finish the year at 1.80 real."...
I think I'd be happy with that considering what's been going on.
Exec Talent
11-03-09, 13:18
I know some people are offended by me calling things as I see them. Well, this story is truly offensive.
U.S. executive pensions rose in '08 even as stocks fell: report
http://news.yahoo.com/s/nm/20091103/bs_nm/us_compensation_executivepensions
My hope is that the employees of those companies are so offended that they insist the CEOs find employment elsewhere. Twitter might be useful after all.
Poucolouco
11-03-09, 17:23
I know some people are offended by me calling things as I see them. Well, this story is truly offensive.
U.S. executive pensions rose in '08 even as stocks fell: report
http://news.yahoo.com/s/nm/20091103/bs_nm/us_compensation_executivepensions
My hope is that the employees of those companies are so offended that they insist the CEOs find employment elsewhere. Twitter might be useful after all.
Employees should save their twitter fingers. Those CEOs have already retired. On the other hand, shareholders have a right to be concerned over some of the generous formulas used in calculating executive pensions as their share values dived.
http://www.google.com/hostednews/afp/article/ALeqM5hg5nzYvD46ytdvpnNpMbbKBFXJGA
Employees should save their twitter fingers. Those CEOs have already retired. On the other hand, shareholders have a right to be concerned over some of the generous formulas used in calculating executive pensions as their share values dived.
http://www.google.com/hostednews/afp/article/ALeqM5hg5nzYvD46ytdvpnNpMbbKBFXJGAYou are seeing more movement on giving shareholders a say on executive compensation. Unfortunately many corporations are not structured to give shareholders enough of a binding vote in these matters. Agree that it is disgusting. How much is enough?
Exec Talent
11-05-09, 16:45
Many of you come for the Thanksgiving holiday. Be sure to bring dollars. The cambios are offering an exchange rate well above that of the ATMs especially when considering all the fees banks are laying on these days.
If you are going to use a Bank Card, the best probably is Capital One.
JohnnyBraz
11-07-09, 09:33
Article from Brazzilmag
It's Up to Investors to Avoid Bubble in Bullish Brazilian Market
Written by Newsroom
Thursday, 05 November 2009
In an interview in London with Bloomberg Television, Brazil's Central Bank president admitted that foreign investors might create an asset bubble in Brazil. "In terms of asset bubbles, stock market etcetera, I think that might happen, but evidently it's up to investors not to get too exuberant," Meirelles said.
Anyhow Meirelles said it's unlikely the country will experience "the most dangerous" form of bubble - a credit-driven one. "We have very strong prudential regulations in Brazil and I don't think that's going to happen."
Brazilian Finance Minister Guido Mantega last month imposed a 2% tax on foreign purchases of equities and fixed income securities in a bid to fend off speculators. Brazil's currency and Brazilian stocks have had world-beating rallies this year.
The Bovespa Stock Index has gained almost 130% in dollar terms this year, including a 2% climb Wednesday to 63,910.51. The Real has gained 35% this year and strengthened 1.4% Wednesday trading at 1.7207 per dollar, its highest in 14 months.
Meanwhile Brazil's top economic policy adviser, Nelson Barbosa told reporters in New York the Real needs to weaken as much as 19% against the dollar for sustainable economic growth.
A "neutral currency" exchange rate of 2.10 to 2.13 per US dollar would be best for growth, Secretary of Economic Policy Barbosa told reporters at an event in New York organized by the Brazilian-American Chamber of Commerce.
Statements from Meirelles and Barbosa, accompany investor concerns Brazil may adopt extra measures to curb the real appreciation.
However he stressed that the real level varies according to commodity prices and is not a target for the government, which remains committed to a floating exchange-rate regime.
For those of you who might enjoy such analyses, there's a fourteen page special supplement in today's Economist magazine/newspaper on Brasil (front cover story). It's a special report on business and finance in Brazil.
Many of you come for the Thanksgiving holiday. Be sure to bring dollars. The cambios are offering an exchange rate well above that of the ATMs especially when considering all the fees banks are laying on these days.
If you are going to use a Bank Card, the best probably is Capital One.
Hi Exec
I will be arriving in Sampa at the end of next week. I was wondering about exactly what you referred to. When I travel to Mexico the exchange rate is usually better at the bank ATM than at the cambios. I presume your advice will still apply when I arrive. Just curious- the exchange rate today is 1.73250. Is that close to the actual at the cambios?
Appreciate your help!
Houston Player
11-22-09, 22:49
In my experience Sao Paulo is different than Rio. I always get better rates from the ATM than I do at cambios in Sao Paulo. I always bring cash also just in case I need it.
Poucolouco
11-26-09, 01:30
Financial Times: Published: November 25 2009 21:13
John Deere, the world’s biggest maker of agricultural equipment, sounded an alarm bell over the strength of the Brazilian currency on Wednesday, saying it had seen a sharp spike in loan defaults by Brazilian farmers and halving its forecast for farming income in the country for the coming year.
http://www.ft.com/cms/s/0/19d14e20-d9f6-11de-b2d5-00144feabdc0.html
Article from BrazzilmagYeah, same fear being discussed in the US now. They are after the Fed because there is a fear that the low interest rates are creating a speculative bubble. They keep propping up the economy and a certain segment is back to the same practices that led to the original meltdown.
Papi Muy Rico
11-27-09, 11:16
Many of you come for the Thanksgiving holiday. Be sure to bring dollars. The cambios are offering an exchange rate well above that of the ATMs especially when considering all the fees banks are laying on these days.
If you are going to use a Bank Card, the best probably is Capital One.
Can you tell me what is a typical exchange rate at the cambios right now? How much above the official rate? ( Today official rate is R1.75 O Globo says)
thanks
Azn Safado
11-27-09, 16:50
Can you tell me what is a typical exchange rate at the cambios right now? How much above the official rate? ( Today official rate is R1.75 O Globo says)
thanks
On Wednesday (25-Nov) when XE.com quoted 1.73, I was able to get 1.77 at a cambio on NS Copacabana.
JohnnyBraz
11-27-09, 19:08
On Wednesday (25-Nov) when XE.comquoted 1. 73, I was able to get 1. 77 at a cambio on NS Copacabana.if you are changing over 5 thousand us, look around and if the rate is 1. 73. You should have no problem getting 1. 80. Try the jewelery shop around the corner from meia pataca. But they are only good for larger amounts.
Simpleminded
12-02-09, 08:16
I would like to move some money to a country outside of the US where a US citizen can easily open a brokerage account. I would like to have my eggs in some non USD baskets. I have read that Singapore is hard to get an account, but Honk Kong is easy. I am thinking of Boom securites in Hong Kong. Does anyone know of other places or have some good or bad feedback about Hong Kong and/or Boom securities? I though about Panama but they use the US Dollar.
Exec Talent
12-04-09, 16:44
Both the DOW and BOVESPA are up today. Dollar has gained almost 1% against the Euro but is down against the Real to 1.71. Add that to a Nobel Prize-winning economist planning to sell some of his investments in Brazil and who knows what the hell is going on.
http://www.chinapost.com.tw/business/americas/2009/12/04/235280/Economist-Krugman.htm
Update: It looks like it was just someone needing to make money. Things are back to normal at COB: DOW virtually flat, BOVESPA down 1% and Real @ 1.73. Euro @ 1.485. All better.
JohnnyBraz
12-05-09, 05:52
I would like to move some money to a country outside of the US where a US citizen can easily open a brokerage account. I would like to have my eggs in some non USD baskets. I have read that Singapore is hard to get an account, but Honk Kong is easy. I am thinking of Boom securites in Hong Kong. Does anyone know of other places or have some good or bad feedback about Hong Kong and/or Boom securities? I though about Panama but they use the US Dollar.try uraguay, only passport needed, you will have an account / mastro keycard with in the hour. You can have an account in us dollars or euros there 2. Max 10000 us deposit by cash. Singapore is quite easy to open an account, you would require a letter from your own bank in the states, passport, employment details etc.
try uraguay, only passport needed, you will have an account / mastro keycard with in the hour. You can have an account in us dollars or euros there 2. Max 10000 us deposit by cash. Singapore is quite easy to open an account, you would require a letter from your own bank in the states, passport, employment details etc.
From what I've heard I can second that for all three countries above.
IMHO best choice is Hong Kong with HSBC bank's premiere account. A little bit costly but they are all over the world now.
I can also add Thailand. Opened an account with "K" bank in 15 minutes with internet access and ATM card. Account is in Thai baht. Don't know about hard currency. I did it in person, only passport required and my hotel's business card.
I am also using Singapore.
Ask the same question at the Hong Kong board. They had some good info there a few months ago.
Exec Talent
12-05-09, 16:00
I would like to move some money to a country outside of the US where a US citizen can easily open a brokerage account. I would like to have my eggs in some non USD baskets. I have read that Singapore is hard to get an account, but Honk Kong is easy. I am thinking of Boom securites in Hong Kong. Does anyone know of other places or have some good or bad feedback about Hong Kong and/or Boom securities? I though about Panama but they use the US Dollar.
Upon the recommendation of a Swiss banker friend. That is all I have to say about that.
Simpleminded
12-06-09, 02:15
Thank you JohnnyBraz, El Greco and Exec Talent. My first thought was Singapore but then I read someplace that it was hard for a foreigner or non resident to do. I was hoping to open it up someplace that didn't have tax on short term or capital gains on stocks because I don't really want to deal with figuring out taxes in two countries. It is bad enough that the US taxes worldwide income. I know Hong Kong has no taxes on stocks and I think Singapore doesn't either. I'm not sure about Uruguay or Thailand.
JohnnyBraz
12-07-09, 11:05
From what I've heard I can second that for all three countries above.
IMHO best choice is Hong Kong with HSBC bank's premiere account. A little bit costly but they are all over the world now.
I can also add Thailand. Opened an account with "K" bank in 15 minutes with internet access and ATM card. Account is in Thai baht. Don't know about hard currency. I did it in person, only passport required and my hotel's business card.
I am also using Singapore.
Ask the same question at the Hong Kong board. They had some good info there a few months ago.Interesting about Thailand, I am in Patong/Phuket for 2 weeks over Xmas and New Year. Will have to look at it there, even though I wouldn't consider opening an account there, just interesting to C. Especially now that the thai baht is not pegged againsted the US dollar.
I have been looking closely at Uruguay, and it still seems good for my situation. But YMMV.
Uruguay taxes only income produced within, or brought into the country, not offshore income earned and retained elsewhere. But they do tax Uruguay-sourced income and it's not a trivial tax:
Individual, Uruguayan-sourced income - up to 25% for labor-based income, up to 12% for capital-based income (e.g. rental income).
Net-worth tax - flat rate of 2% on assets held in Uruguay, in excess of a government-set minimum. In 2007 that minimum was about US$75,000 for individuals & estates. (Twice that for a couple filing jointly.)
Corporate tax - a flat rate of 25%, plus a business net-worth tax varying from 1.5% to 3.5%.
And property tax (real-estate tax) varying from 0.15% to 0.30%.
Plus there's a value-added tax (VAT/IVA) on goods and services, ranging from 10% to 20%.
I think it could work for me because my US Civil Service pension is "offshore" by Uruguay standards, thus untaxable; and I will be keeping my investments "offshore" as well. I'm not daunted by VAT, because I'm not into the "conspicuous consumption" lifestyle (aside from sailing - not competitively, so not all that expensively - and of course The Hobby). I'm thinking of living in Uruguay because my money will go farther, and the chicas are available & friendly. If you're not making your money or keeping your money in Uruguay, it might work for you too.
Hope this helps,
Westy
I was hoping to open it up someplace that didn't have tax on short term or capital gains on stocks because I don't really want to deal with figuring out taxes in two countries. It is bad enough that the US taxes worldwide income. I know Hong Kong has no taxes on stocks and I think Singapore doesn't either. I'm not sure about Uruguay or Thailand.
Simpleminded
12-08-09, 00:16
Thanks for the info Westy. I am not ready to move out of the US yet unless I lose my job. I am more interested in putting some money in different countries in case people finally realize that the US has no intention of paying back $12 trillion with money that is worth what the USD is worth today. It sounds like Uruguay may be a nice place to live, but you would only want to bring in your spending money into the country. It seems like Singapore is my first choice although it requires a trip there to open an account.
Interesting about Thailand, I am in Patong/Phuket for 2 weeks over Christmas and New Year. Will have to look at it there, even though I wouldn't consider opening an account there, just interesting to C. Especially now that the thai baht is not pegged againsted the US dollar.Why in the world wouldn't you consider opening an account in Thailand? For anyone who swings through there once a year or so, it's ideal. Just for the convenience. Not to mention, the spread. Plus the way they jack on the % anytime time you use the MC or Visa. Just load up a maintainance level balance in the account, what's to lose?
i have been looking closely at uruguay, and it still seems good for my situation. but ymmv.
uruguay taxes only income produced within, or brought into the country, not offshore income earned and retained elsewhere. but they do tax uruguay-sourced income and it's not a trivial tax:
individual, uruguayan-sourced income - up to 25% for labor-based income, up to 12% for capital-based income (e.g. rental income).
net-worth tax - flat rate of 2% on assets held in uruguay, in excess of a government-set minimum. in 2007 that minimum was about us$75,000 for individuals & estates. (twice that for a couple filing jointly.)
corporate tax - a flat rate of 25%, plus a business net-worth tax varying from 1.5% to 3.5%.
and property tax (real-estate tax) varying from 0.15% to 0.30%.
plus there's a value-added tax (vat/iva) on goods and services, ranging from 10% to 20%.
i think it could work for me because my us civil service pension is "offshore" by uruguay standards, thus untaxable; and i will be keeping my investments "offshore" as well. i'm not daunted by vat, because i'm not into the "conspicuous consumption" lifestyle (aside from sailing - not competitively, so not all that expensively - and of course the hobby). i'm thinking of living in uruguay because my money will go farther, and the chicas are available & friendly. if you're not making your money or keeping your money in uruguay, it might work for you too.
hope this helps,
westyas for a rio de janeiro currency issue....got 1.76 today from the man in the travel agency in the edificio miami (princess isabella) when xe.com was quoting 1.74 and the local hebrews (figure of speech, please) down at posto 4 were 'offering' 1.70. change 5k american to get it, but otherwise could get the 1.74. like ideally to change with brazilians on their way to ny, though don't always compromise the convenience.
Paisalov99
12-15-09, 03:40
I'd like to partner with like minded investors to open a business or look into opporutnities to invest in Brazil, apartments, websites, import , export etc
send PM if you are looking for investment opportunities in Brazil.
Guys today oanda gives 1 euro 2,52 reais.
I walk and ask along a long part of nossa senhora. When I asked how much they change euro, the worst one was 2,40, the best one and most common 2,45.
When I replied and how much for 100 euro, they almost all smiled and said the same, but when I said what about 1 single banknote of 500 euro, suddenly all gave me back a bit better change rate.
So I was able to change 1 euro to 2,56 reais, really not bad I think.
Strange as again one piece of 500 euro seems better than 5 pieces of 100, why ?
However for me it is decided, from now I will all the time travel with many pieces of 500 euro and only one single rechargeble credit card ( so in case of need one friend from my home can put me money inside ),no more hassles ( as during my first time here ) about to find an ATM that works, sometimes open in the night, that not steal pin code, hidden inside shopping center, do it only if nobody around and so on....
Just couple of purple banknotes that take so little space and it is done and yes, no commission too.
However if you do not get tired to walk and ask, you can end to get a much better exchange rate.
P.S. btw I guess it is hard to fake 500 euro, cause everytime they take and neither control or watch it to see if they are true.
Pretty standard everywhere the last couple of days. Loumo will pay R$1.80 if you pay your bill in dollars. They will not exchange dollars outside of your bill, but will give change back in reais. fyi
Pretty standard everywhere the last couple of days. Loumo will pay $180 if you pay your bill in dollars. They will not exchange dollars outside of your bill, but will give change back in reais. fyi
I got 2,56 for euro and 1,80 for $ in two places around hotel praia lido travel agency exchange rates offices.
Exec Talent
01-21-10, 22:55
Things are starting to move the other way.
EUR:BRL - 2.54
USD:BRL - 1.80
Spread --- .74
back when I first brought this up (Sept 09, I believe, it was .82). So in relative terms, Euro users are not so rich.
Albert Punter
01-23-10, 04:42
In the latest period Real came back to its level before crisis.
Therefore, statistics report that in last three years it has been strongest currency.
This makes our mongering life hard as it is not as cheap as before.
However, superb quality you can get here compensates for that ...
I was quoted 1.77 or 1.78 to the USD at multiple places, but everywhere would give 1.80 for exchanges of at least $300 if I asked. Not a big savings, but why not!
I was quoted 1.77 or 1.78 to the USD at multiple places, but everywhere would give 1.80 for exchanges of at least $300 if I asked. Not a big savings, but why not!Really?! When was this? The USD to Real exchange was 1.81 yesterday and today, 1.81650 per XE.com.
But Yahoo Finance has it at 1.8215. And Oanda.com has it at 1.8098.
Maybe one of the Financially inclined fellas here can explain why the differences in the exchange rates from these sites.
One thing that's nice, though, the exchange rate has been going up steadily this week, (it was 1.76 Monday.)
Really?! When was this? The USD to Real exchange was 1.81 yesterday and today, 1.81650 per XE.com.
But Yahoo Finance has it at 1.8215. And Oanda.com has it at 1.8098.
Maybe one of the Financially inclined fellas here can explain why the differences in the exchange rates from these sites.
One thing that's nice, though, the exchange rate has been going up steadily this week, (it was 1.76 Monday.)
There is always a difference between the currency exchange rates and the street rate. I believe 2 factors, 1) The quoted rates on the exchanges reflect large currency exchanges, 10,000 or more dollars at a time, many in the 100,000 range. 1) There is a difference between the exchange for buying and selling a foreign currency. The amount of that difference or "spread' is often related to the volatility and the liquidity of the related currencies.
This is also a money/profit game. Buying, holding, selling on the margin, to try and make profit. Different exchanges in different parts of the world, different quantities of each currency on hand, different timezones, etc. All of which go for minor variances. If the variance were too great, then you could make a profit by buying from one and selling in a different exchange, but the small spread makes that impossible.
Oh, and some websites might quote a large bank rate, (Citibank, HSBC, BA) another might quote the average of the buy/sell on one exchange, or multiple exchanges. Takes research to see exactly where the numbers come from.
But more relevant, on the street today (well, not literally on the street - in a cambio), quoted 1.75, aske for and got 1.80, could not get 1.81. And that is on Avenida Copacabana around Miguel Lemos, Xavier Silvia, etc. So 1.80 is easy, if you ask.
Ken_Apples
02-03-10, 18:50
Gents!
Today the state debt in the USA is astronomical 12356 BILLION dollars.
( http://www.brillig.com/debt_clock/ )
That equals more than 40.000 USD in debt for each and every US-citizen.
The jobs have note came back, and worse, there is nothing that indicate that things will change for the better in the near future.
Just as bad is the situation in some of the EU countries (Greece, Spain, Iceland and the Baltics ) while other EU countries "just keep their nose above the water".
As the world is intergrated with cross loans and crossbank-ownership, no one is getting unaffected from a meltdown in any country.
To add to that, Chinese rising economical influence and low labor cost is shutting down factories in all developed countries, and people are losing their jobs.
What we see is a tremendous amount of money floating out from the first world countries of the world, into the emerging economies of the world (China & India)
Even Harward professor Josh Lerner now say that we should give up on putting money into lost companies like General Motors.
This scares me, because the top elite will always be more-or-less protected from the crisis, while entrepreneurs, top middleclass and downwards will feel the full force of a meltdown.
(thinking in assets of a house is plain wrong as it's purely based on the buying power of Joe, the middle class man. - If Joe the middle class man has no money, then the house holds no or very little value as well. But the bank loan is still the same and there to be payed...)
So the bottom line is: Is NOW the time to start buying gold?
You give me your input, because I'm not sure the fat lady has sung yet.
Regards, Ken Apples
Enjoy the higher exchange rate while you can, because this dollar rally will be short lived. The dollar will crash in the next year or 2. You have the dumbest economic president in history running things. He makes Bush look like Bill Gates. The budget deficit will be 1. 6 trillion this year. [Racial Epithet Deleted by Admin] even says he will have these deficits for years to come. So much for runing on change. Lets do exactly what bush did and triple it. Put all your money in commodities, because it won't be pretty.
EDITOR'S NOTE: This report was edited in accordance with the Forum's Zero Tolerance policy regarding reports containing racial epithets.
Please be advised that Forum Members who succeed in having three or more of their reports deleted for personal attacks, racial epithets or other derogatory comments, will be banned under the Forum's Serial Antagonist Policy.
Enjoy the higher exchange rate while you can, because this dollar rally will be short lived. The dollar will crash in the next year or 2. You have the dumbest economic president in history running things. He makes Bush look like Bill Gates. The budget deficit will be 1. 6 trillion this year. [Racial Epithet Deleted by Admin] even says he will have these deficits for years to come. So much for runing on change. Lets do exactly what bush did and triple it. Put all your money in commodities, because it won't be pretty.
EDITOR'S NOTE: This report was edited in accordance with the Forum's Zero Tolerance policy regarding reports containing racial epithets.
Please be advised that Forum Members who succeed in having three or more of their reports deleted for personal attacks, racial epithets or other derogatory comments, will be banned under the Forum's Serial Antagonist Policy.Good there NO PLACE for these type of comments on this site, it's ok to disagree with whoever is running this country but to use racist rants there is no need for that.
Kid Cisco
Gents!
Today the state debt in the USA is astronomical 12356 BILLION dollars.
( http://www.brillig.com/debt_clock/ )
That equals more than 40.000 USD in debt for each and every US-citizen.
The jobs have note came back, and worse, there is nothing that indicate that things will change for the better in the near future.
Just as bad is the situation in some of the EU countries (Greece, Spain, Iceland and the Baltics ) while other EU countries "just keep their nose above the water".
As the world is intergrated with cross loans and crossbank-ownership, no one is getting unaffected from a meltdown in any country.
To add to that, Chinese rising economical influence and low labor cost is shutting down factories in all developed countries, and people are losing their jobs.
What we see is a tremendous amount of money floating out from the first world countries of the world, into the emerging economies of the world (China & India)
Even Harward professor Josh Lerner now say that we should give up on putting money into lost companies like General Motors.
This scares me, because the top elite will always be more-or-less protected from the crisis, while entrepreneurs, top middleclass and downwards will feel the full force of a meltdown.
(thinking in assets of a house is plain wrong as it's purely based on the buying power of Joe, the middle class man. - If Joe the middle class man has no money, then the house holds no or very little value as well. But the bank loan is still the same and there to be payed...)
So the bottom line is: Is NOW the time to start buying gold?
You give me your input, because I'm not sure the fat lady has sung yet.
Regards, Ken ApplesGold is gonna go up to 3000 guarenteed and 5000 if there is a crisis. I heard about investing in gold almost 2 years and now it up 5 times.
Enjoy the higher exchange rate while you can, because this dollar rally will be short lived. The dollar will crash in the next year or 2. You have the dumbest economic president in history running things. He makes Bush look like Bill Gates. The budget deficit will be 1. 6 trillion this year. [Racial Epithet Deleted by Admin] even says he will have these deficits for years to come. So much for runing on change. Lets do exactly what bush did and triple it. Put all your money in commodities, because it won't be pretty.
EDITOR'S NOTE: This report was edited in accordance with the Forum's Zero Tolerance policy regarding reports containing racial epithets.
Please be advised that Forum Members who succeed in having three or more of their reports deleted for personal attacks, racial epithets or other derogatory comments, will be banned under the Forum's Serial Antagonist Policy.Obama is only as good as the advisors he brings in. This makes obama a horrible choice because the advisors he brought in were the same ones that caused this economic genocide we are in today. Lets face it the united states has not had a president in over 30 years. It is very clear that corporate america runs the white house and Obama is nothing more than a token figure who has the charm, in good shape and talks smoothly to fool the american public. At night they hang him up in a closet and take the batteries out.
Enjoy the higher exchange rate while you can, because this dollar rally will be short lived. The dollar will crash in the next year or 2. You have the dumbest economic president in history running things. He makes Bush look like Bill Gates. The budget deficit will be 1. 6 trillion this year. [Racial Epithet Deleted by Admin] even says he will have these deficits for years to come. So much for runing on change. Lets do exactly what bush did and triple it. Put all your money in commodities, because it won't be pretty.
EDITOR'S NOTE: This report was edited in accordance with the Forum's Zero Tolerance policy regarding reports containing racial epithets.
Please be advised that Forum Members who succeed in having three or more of their reports deleted for personal attacks, racial epithets or other derogatory comments, will be banned under the Forum's Serial Antagonist Policy.Brazilman,
That is incredibly ignorant of you to make racist epithets against President Obama: the man had a white mother and a Kenyan father and a background of priviledge. He in no way -- except skin pigment -- resembles the typical african-american descendent of a debased slave culture.
I called him a HN which I stand by. He is a fraud and a liar. He is a token like clarence thomas. He has his face so far up the ass of wallstreet its scary. The middle class is going to be wiped out from inflation and unemployment fom all the spending he is doing. America is done and it will happen much sooner than people think. I think by the end of the year the dollar will start to crash and inflation will hit the roof. George Soros just doubled his gold holdings in the last week. That should worry everyone.
The middle class is going to be wiped out from inflation and unemployment... America is done and it will happen much sooner than people think.
The dollar will crash in the next year or 2.
Gold is gonna go up to 3000 guarenteed and 5000 if there is a crisis. All moot points. Haven't you heard the World ends 12-22-2012. It's written in stone. That wasn't a movie, but a warning. And if you missed, it comes out on DVD Mar 2. BTW, Have you noticed all the earthquakes? Just warming up. LOL
All moot points. Haven't you heard the World ends 12-22-2012. It's written in stone. That wasn't a movie, but a warning. And if you missed, it comes out on DVD Mar 2. BTW, Have you noticed all the earthquakes? Just warming up. LOLIts all nonsense the mayan theory is just more scare tactics.
Tongue FIRMLY placed in Cheek, M.B.
You didn't think I was serious? LOL
Pussyhunter099
04-13-10, 14:44
Yesterday and today I got 1.8 exchange rate at the cambio across the street from Blame it on Rio.
Anyone know of a cambio giving better rates?
For those who like to keep an eye on such things - iCurrency Plus is a fully featured iPhone app that tracks currency changes. You can set it up to see how a currency is performing over a period of a few months, or set alarms to show sudden changes in the performance of the Real against say, the dollar. It's on offer going free if you download it in the current three day promotion window.
Apart from watching how the Real is performing, some people might wish to use it to track and display the trends of several currencies at once, and maybe use it to help choose a 'good value' country to visit.
As many mongers will be aware, the Real is expected to continue getting stronger. The British Pound is currently the pits. :(
The dollar fetched 1.84 today. Obviously, whats happenning in Europe is having some sort of an effect on whats happening with the dollar and Real. Question is.......will this tend last for a week, month, months, before the pendulum swings back the other way?
I still got $10, 000 worth of reais I purchased at the rate of 2. 5 five years ago thats R$25. 000. I've been to busy to enjoy them by making a killing off this economic decline. You can tell 97 percent of you guys when long on your investments. The jokes on you jack, LOL. Come on! I can take 85% of equity out of my four homes when I do not have a job and a 500 credit score. You guys are workers easy to manipulate. I love when the dollar falls it separates the boys from the men and if you have a problem with the American Governement (Bush, Obama, etc.) you failed to understand the system of America. You should be count your cash, but you failed, lost and now b*tching. You guys are funny!
Jazzy Daddy
05-20-10, 17:34
May 20 (Bloomberg) -- Brazil’s real is poised to drop to the weakest level in 10 months after buyers of the currency diminished and a momentum indicator signaled declines, according to Invesco Ltd.’s Avi Hooper.
The currency’s weekly TD Sequential indicator suggests an almost yearlong rally against the dollar ended in October, while the moving average convergence/divergence, or MACD, chart shows the real is likely to weaken, Hooper said in an interview. A close above the currency’s 55-week moving average tomorrow would signal a move to the 200-week moving average of about 1.939 per dollar, or 5.7 percent weaker than yesterday’s level of 1.828, according to Hooper.
“Buyers are exhausted,” said Hooper, a money manager in London at Invesco Asset Management Ltd., part of Invesco, an investment firm that oversaw about $420 billion worldwide at the end of March. “This chart pattern suggests now is the time to be short the Brazilian real and long the U.S. dollar. A new trend has started and it’s strongly bearish.”
The real retreated 1.6 percent against the dollar this week through yesterday on concern Europe’s debt crisis will curb the global economic recovery and reduce demand for higher-yielding assets. The currency is paring an 11 percent rally in the past 12 months driven by rebounds in Brazilian and global economic growth that boosted demand for the nation’s stocks and bonds.
“The real has been a pretty crowded trade and what’s happening is a lot of these long-term crowded positions are getting sold,” said Hooper. “The setups are all there for this move weaker.”
In technical analysis, investors study charts of trading patterns to forecast changes in a currency, commodity, security or index. The TD Sequential, developed by Tom DeMark of Market Studies LLC, seeks to anticipate reversals in the trend of price movements. MACD charts can indicate whether a price shift is a change in trend or a short-term deviation. Moving averages show the average value of a price over a specified period of time.
A close above the currency’s 55-week moving average tomorrow would signal a move to the 200-week moving average of about 1.939 per dollar, or 5.7 percent weaker than yesterday’s level of 1.828,..Not 1.93 YET, but per XE.com as of mid-day today:
1.00 USD = 1.88600 BRL
I still got $10, 000 worth of reais I purchased at the rate of 2. 5 five years ago thats R$25. 000. I've been to busy to enjoy them by making a killing off this economic decline. You can tell 97 percent of you guys when long on your investments. The jokes on you jack, LOL. Come on! I can take 85% of equity out of my four homes when I do not have a job and a 500 credit score. You guys are workers easy to manipulate. I love when the dollar falls it separates the boys from the men and if you have a problem with the American Governement (Bush, Obama, etc.) you failed to understand the system of America. You should be count your cash, but you failed, lost and now b*tching. You guys are funny!Mattress stuffing. that's a nice strategy.
May 20 (Bloomberg) -- Brazil’s real is poised to drop to the weakest level in 10 months after buyers of the currency diminished and a momentum indicator signaled declines, according to Invesco Ltd.’s Avi Hooper.
The currency’s weekly TD Sequential indicator suggests an almost yearlong rally against the dollar ended in October, while the moving average convergence/divergence, or MACD, chart shows the real is likely to weaken, Hooper said in an interview. A close above the currency’s 55-week moving average tomorrow would signal a move to the 200-week moving average of about 1.939 per dollar, or 5.7 percent weaker than yesterday’s level of 1.828, according to Hooper.
“Buyers are exhausted,” said Hooper, a money manager in London at Invesco Asset Management Ltd., part of Invesco, an investment firm that oversaw about $420 billion worldwide at the end of March. “This chart pattern suggests now is the time to be short the Brazilian real and long the U.S. dollar. A new trend has started and it’s strongly bearish.”
The real retreated 1.6 percent against the dollar this week through yesterday on concern Europe’s debt crisis will curb the global economic recovery and reduce demand for higher-yielding assets. The currency is paring an 11 percent rally in the past 12 months driven by rebounds in Brazilian and global economic growth that boosted demand for the nation’s stocks and bonds.
“The real has been a pretty crowded trade and what’s happening is a lot of these long-term crowded positions are getting sold,” said Hooper. “The setups are all there for this move weaker.”
In technical analysis, investors study charts of trading patterns to forecast changes in a currency, commodity, security or index. The TD Sequential, developed by Tom DeMark of Market Studies LLC, seeks to anticipate reversals in the trend of price movements. MACD charts can indicate whether a price shift is a change in trend or a short-term deviation. Moving averages show the average value of a price over a specified period of time.
I am counting on the monger God's to be working behind the scenes to get this thing at 2:1
Within the next 6-12 months the dollar will be even with the Euro and inflation will be hitting Brasil big tim, when the Euro falls the Real will fall also against the dollar. Keep in mind it does mean that dollar is doing good. I predict within a 1 1/2 years there will be a global depression world wide. Next economy to feel this world wide econimic collapase is China.
The dollar fetched 1.84 today. Obviously, whats happenning in Europe is having some sort of an effect on whats happening with the dollar and Real. Question is.......will this tend last for a week, month, months, before the pendulum swings back the other way?
May 20 (Bloomberg). Brazil's real is poised to drop to the weakest level in 10 months after buyers of the currency diminished and a momentum indicator signaled declines, according to Invesco Ltd. 's Avi Hooper.
The currency's weekly TD Sequential indicator suggests an almost yearlong rally against the dollar ended in October, while the moving average convergence/divergence, or MACD, chart shows the real is likely to weaken, Hooper said in an interview. A close above the currency's 55-week moving average tomorrow would signal a move to the 200-week moving average of about 1. 939 per dollar, or 5. 7 percent weaker than yesterday's level of 1. 828, according to Hooper.
"Buyers are exhausted, " said Hooper, a money manager in London at Invesco Asset Management Ltd., part of Invesco, an investment firm that oversaw about $420 billion worldwide at the end of March. "This chart pattern suggests now is the time to be short the Brazilian real and long the USA dollar. A new trend has started and it's strongly bearish. "
The real retreated 1. 6 percent against the dollar this week through yesterday on concern Europe's debt crisis will curb the global economic recovery and reduce demand for higher-yielding assets. The currency is paring an 11 percent rally in the past 12 months driven by rebounds in Brazilian and global economic growth that boosted demand for the nation's stocks and bonds.
"The real has been a pretty crowded trade and what's happening is a lot of these long-term crowded positions are getting sold, " said Hooper. "The setups are all there for this move weaker. "
In technical analysis, investors study charts of trading patterns to forecast changes in a currency, commodity, security or index. The TD Sequential, developed by Tom DeMark of Market Studies LLC, seeks to anticipate reversals in the trend of price movements. MACD charts can indicate whether a price shift is a change in trend or a short-term deviation. Moving averages show the average value of a price over a specified period of time.Brazil holds to many dollars in it reserves. If the reala gets weak they will flood the market with dollars making the reala strong. Sorry guys you have to pay full price for p*ssy for a long time, LOL.
Exec Talent
06-04-10, 14:25
http://www.bloomberg.com/apps/news?pid=20601087&sid=a1SjFo2q8_n8&pos=7
Not much of a movement predicted (as in not going over 2:1) but BOA predicts 1.9 Sept 30 and 1.8 YE. Barclays 2.0 Sept 30 and 1.9 YE. Twenty-one other economists surveyed by Bloomberg predict 1.77 at both points.
It has a long way to go to get back to some decency it was four-five years ago when I got R2.25-2.40 per dollar.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a1SjFo2q8_n8&pos=7
Not much of a movement predicted (as in not going over 2:1) but BOA predicts 1.9 Sept 30 and 1.8 YE. Barclays 2.0 Sept 30 and 1.9 YE. Twenty-one other economists surveyed by Bloomberg predict 1.77 at both points.
If it made it to 2:1 again in the next 6 months I'd be happy. A trend upward is also a welcome sight.
If it made it to 2:1 again in the next 6 months I'd be happy. A trend upward is also a welcome sight.
I read somewhere (maybe, on this board) that the Central Bank of Brazil thinks 2.1 to a dollar is the optimal exchange rate (for the sake of its exports). Of course, whether this "optimal" rate becomes reality is up to forces beyond whatever the Central Bank of Brazil desires.
I read somewhere (maybe, on this board) that the Central Bank of Brazil thinks 2.1 to a dollar is the optimal exchange rate (for the sake of its exports). Of course, whether this "optimal" rate becomes reality is up to forces beyond whatever the Central Bank of Brazil desires.
Two reais to a dollar would be fine by me. But my more-bothersome issue with Brazil is their USA-style mandate to tax a resident's worldwide income. I don't mind paying the IRS their percentage of my pension, but having to pay 27% more to the RF is too much.
Two reais to a dollar would be fine by me. But my more-bothersome issue with Brazil is their USA-style mandate to tax a resident's worldwide income. I don't mind paying the IRS their percentage of my pension, but having to pay 27% more to the RF is too much.But aren't IRS deduction for living outside the US? In 2009, it was U$S 90,000. I'm no fan of the IRS (the only legal terrorist institution within the US) but not paying any taxes on the first 90K seems pretty nice to me.
I get it. Brazil's economy is long term positive. But that does not mean that everyone. And there are a LOT of people are all of a sudden in the affluent, or even the middle class. This all comes down to what kind of lifestyle can you buy in Brazil for how many dollars.
I am very familiar with Colombia, so please indulge with the comparison: There are rich class in Colombia that live better lives than most rich Americans. The middle class works its ass off for a modest living and the poor are rather hopeless. So, this means you can live in a good part of Medellin (or Cali; or Bogota) and live well on as little as 1500 US per month. For 2500 bucks you are living pretty well. And for 3500 per month, you are at the top of the heap.
I think Rio is in a class by itself. Expensive. But San Pao and especially the smaller southern cities must be "affordable"?!! But I could be wrong.
What say you veterans on this subject.
Member #3439
06-07-10, 01:39
Can anyone make any recommendations for a good cambio or some secure ATM locations in Rio Centro? I RTTF and gleaned the following old stuff, which may or may not be applicable today.
Cambios:
- Ave Rio Banco one block north of Presidente Vargas, upstairs.
- Big Avenida building (?) over Carioca station, third floor
ATM:
- Citi on Araju Porto Alegre a couple of blocks east of Rio Branco
Can anyone make any recommendations for a good cambio or some secure ATM locations in Rio Centro? I RTTF and gleaned the following old stuff, which may or may not be applicable today.
Cambios:
- Ave Rio Banco one block north of Presidente Vargas, upstairs.
- Big Avenida building (?) over Carioca station, third floor
ATM:
- Citi on Araju Porto Alegre a couple of blocks east of Rio BrancoI've used the Av RB location. But beware they are very picky about the condition of the bills. She rejected 3 $100 bills because they were not perfect.
Can anyone make any recommendations for a good cambio or some secure ATM locations in Rio Centro? I RTTF and gleaned the following old stuff, which may or may not be applicable today.
Cambios:
- Ave Rio Banco one block north of Presidente Vargas, upstairs.
- Big Avenida building (?) over Carioca station, third floor
ATM:
- Citi on Araju Porto Alegre a couple of blocks east of Rio BrancoThere is also a big HSBC on AV RB, a few blocks north of Carioca metro station on left side of street. Lots of ATMs, secure and lobby assistance if needed.
Member #3439
07-11-10, 08:26
I've used the Av RB location. But beware they are very picky about the condition of the bills. She rejected 3 $100 bills because they were not perfect.
Ave Rio Banco one block north of Presidente Vargas, second floor of the Mohagany building was giving me R1.85/USD vs the xe.com rate of 1.81 last week. Even for beat up 100's and 20's. Nice cambio. Thanks for the tip.
Ave Rio Banco one block north of Presidente Vargas, second floor of the Mohagany building was giving me R1.85/USD vs the xe.com rate of 1.81 last week. Even for beat up 100's and 20's. Nice cambio. Thanks for the tip.PP, Since you are in country, what is the best option for getting reais . . . Using a no-fee ATM card (no ATM fee nor foreign transaction fee) or exchanging currency at the cambios? In Copacabana, which cambios and/or secure ATM would you recommend?
Member #3439
07-14-10, 04:34
PP, Since you are in country, what is the best option for getting reais . . . Using a no-fee ATM card (no ATM fee nor foreign transaction fee) or exchanging currency at the cambios? In Copacabana, which cambios and/or secure ATM would you recommend?
I don't know about Copa cambios as I don't hang there much, but in Copa there is an ATM inside the grocery store just south of Rua Siqueria Campos and Rua Tonelero and it's very secure. Also, there is an ATM inside the JW Marriot on Ave Atlantica. Search here and you'll find more.
Visa/Cirrus ATM was giving 1.77/USD and the cambio there in Centro that I posted below was giving 1.85. If you are changing a bunch of money, maybe it's worthwhile to shop cambios. Otherwise, probably not worth it.
PP: Thanks for your advice. Do you know the exact address to the Mohagany building? Might be able to check it out after a session on Rio Branco.
Member #3439
07-16-10, 07:08
PP: Thanks for your advice. Do you know the exact address to the Mohagany building? Might be able to check it out after a session on Rio Branco.
Sorry, don't know the address. Let's say you are at Rio Branco 156. Stay on that side of the street, going north and you'll cross Vargas. Continue to the next corner past Vargas and stop. Look diagonally across the street and you see a black building on the corner. That's it. Cross the street, go up the stairs at the left side of the opening at the bottom of the building, and there you are in the cambio.
Pp, is Rio branco in Copa or near 4x4 downtown area?
Poucolouco
07-25-10, 14:53
A question some Rio regulars might be able to help with, does it make any differane if I bring USD or EURO for my trip next week?
I already have the € did not think it was worth changing money twice.
Thank you,
IPM Euros are accepted at cambios in Brasil. Unless you can predict the future exchange rates of all three currencies, there is no advantage to making multiple exchanges.
Ken_Apples
07-30-10, 11:07
Gents, the chart reading is not a happy one, and if things keep on regressing like this, we could soon be facing the same rates as in october '09.
http://finance.yahoo.com/q/bc?s=BRLUSD=X&t=5y&l=on&z=m&q=l&c=
As predicted, the goldprice has just keep rising since our discussion here on the forum about it, and people who sell and buy gold predics another 10-20% rise on the goldprices.
I'm planning for a Braziltrip in early 2011, but man, those rates hurts.
Regards, Ken Apples
The real is generally quoted per US$ ie US$ 1= Real$ 1.75, the other way round just confuses people (R$ 1= US .56)
http://finance.yahoo.com/currency-converter/?u#from=USD;to=BRL;amt=1
Friggin currency is so overvalued it is a joke. I went to the US last week, was cheaper in the United States for everything including hotels, restaurants, gas, everything except cheap pussy.
For what I pay in Brazil I could live better in the US, and I would not have to put up with the annoying things that are associated with a developing country ie Police that are severely corrupt, legal system that barely works, super inefficient businesses, waiting in line for everything, not having change for a Real $50 note at the supermarket, filthy streets, infrastructure that doesn't exist etc etc etc etc..................One of the supposed benefits of living in a developing country is it is supposed to be way cheaper than an advanced country to compensate for all the things the country lacks, not supposed to be the other way around............................................Ok i vented now, I feel better!
The real is generally quoted per US$ ie US$ 1= Real$ 1. 75, the other way round just confuses people (R$ 1= US $506)
http://finance. Yahoo.com/currency-converter/? U#from=USD; to=BRL; amt=1
Friggin currency is so overvalued it is a joke. I went to the US last week, was cheaper in the United States for everything including hotels, restaurants, gas, everything except cheap pussy.
For what I pay in Brazil I could live better in the US, and I would not have to put up with the annoying things that are associated with a developing country ie Police that are severely corrupt, legal system that barely works, super inefficient businesses, waiting in line for everything, not having change for a Real $50 note at the supermarket, filthy streets, infrastructure that doesn't exist etc etc etc etc. One of the supposed benefits of living in a developing country is it is supposed to be way cheaper than an advanced country to compensate for all the things the country lacks, not supposed to be the other way around. Ok I vented now, I feel better!Any boy capable of living in Bubba-Land, USA must be way too spoiled by luxury and sheer class to be able to tolerate life in Brazil. For cost comparison, what's the current monthly salary you are paying your maid, cook and line-waiter back in the USA Homeland?
Ken_Apples
07-30-10, 18:18
For what I pay in Brazil I could live better in the US, and I would not have to put up with the annoying things that are associated with a developing country ie Police that are severely corrupt, legal system that barely works, super inefficient businesses, waiting in line for everything, not having change for a Real $50 note at the supermarket, filthy streets, infrastructure that doesn't exist etc etc etc etc..................One of the supposed benefits of living in a developing country is it is supposed to be way cheaper than an advanced country to compensate for all the things the country lacks, not supposed to be the other way around............................................Ok i vented now, I feel better!
Bubba, I feel you man, and for the exact reason you just gave, I scrapped the plans on a move to Brazil 5 years ago.
It really gives perspective talking to expats who have been living in Brazil for many years, about the way they vent thier frustration, over the same thing you just said, and other things (like the problem of thefts/scams when importing ie things from abroad, or that you have to babysit your own car in the carshop when your car is having service or the car WILL be raided of expensive parts and replaced with cheaper parts - and then they are cheeky enough to put the time it took to rob you on your bill...small things like that....:-).
For me personally, I came to the conclution it was not worth it.
Still Loving Brazil, I hope to spend 3-6 month there every year after retirement, and 6 month over seas.
Just like The beatles - I follow the sun :-)
Have a great weekend to all, and enjoy life,
http://www.youtube.com/watch?v=pGj8jwN_tkk
Greetings, Ken Apples
Any boy capable of living in Bubba-Land, USA must be way too spoiled by luxury and sheer class to be able to tolerate life in Brazil. For cost comparison, what's the current monthly salary you are paying your maid, cook and line-waiter back in the USA Homeland?
I don't have a maid, don't like someone being in my apartment, i cook and clean myself. My expenses for just normal stuff, like rent, food, and basic purchases are more than I would spend in a normal advanced country and they are of a worse quality. My current apartment is perhaps the worst quality apartemt I have ever lived in but it would be considered above average in Brazil - it still costs more than what I would pay say in the US in a major city.
Anything remotely considered "luxury" is out of the ballpark expensive in Brazil.
Just one example, a brand new Honda Civic is about R$70,000 drive away in Brazil, thats US$ 40,000. In the US it would run maybe US $16,000. They are assembled in Brazil, hence the import tax would be limited. Just stupid prices.
Anything imported? forget about it, at least 2 times the price maybe 3 times the price. Just stupid things that cost $5 in the US cost $30 in Brazil. A towel you would pay $7 for at Walmart would be $30+ in Brazil. Just doesn't make sense to have the Real at $1 : R$1.75.
Just for the record : I am not american, I am european, different handles have different meaning in different places!
I don't have a maid, don't like someone being in my apartment, i cook and clean myself. My expenses for just normal stuff, like rent, food, and basic purchases are more than I would spend in a normal advanced country and they are of a worse quality. My current apartment is perhaps the worst quality apartemt I have ever lived in but it would be considered above average in Brazil - it still costs more than what I would pay say in the US in a major city.
Anything remotely considered "luxury" is out of the ballpark expensive in Brazil.
Just one example, a brand new Honda Civic is about R$70,000 drive away in Brazil, thats US$ 40,000. In the US it would run maybe US $16,000. They are assembled in Brazil, hence the import tax would be limited. Just stupid prices.
Anything imported? forget about it, at least 2 times the price maybe 3 times the price. Just stupid things that cost $5 in the US cost $30 in Brazil. A towel you would pay $7 for at Walmart would be $30+ in Brazil. Just doesn't make sense to have the Real at $1 : R$1.75.
Just for the record : I am not american, I am european, different handles have different meaning in different places!"A major city? " Like which one? SF? NYC?
One thing that sometimes gets overlooked: Zona Sul in Rio is a wealthy area of Brazil, equivalent (relatively) to the best areas in their Homelands. Even those Europeans who say they are Parisien. Are they set-up in the 16th, an apartment on Victor Hugo, or in some dump block in St. Denis? I can still laugh remembering a bubba from Alabama who had never seen a subway before Rio. Of course Rio is expensive to a mook from flyover country.
I don't have a maid, don't like someone being in my apartment, i cook and clean myself. My expenses for just normal stuff, like rent, food, and basic purchases are more than I would spend in a normal advanced country and they are of a worse quality. My current apartment is perhaps the worst quality apartemt I have ever lived in but it would be considered above average in Brazil - it still costs more than what I would pay say in the US in a major city.
Anything remotely considered "luxury" is out of the ballpark expensive in Brazil.
Just one example, a brand new Honda Civic is about R$70,000 drive away in Brazil, thats US$ 40,000. In the US it would run maybe US $16,000. They are assembled in Brazil, hence the import tax would be limited. Just stupid prices.
Anything imported? forget about it, at least 2 times the price maybe 3 times the price. Just stupid things that cost $5 in the US cost $30 in Brazil. A towel you would pay $7 for at Walmart would be $30+ in Brazil. Just doesn't make sense to have the Real at $1 : R$1.75.
Just for the record : I am not american, I am european, different handles have different meaning in different places!
I beg to differ on some issues.
All basic needs, food etc. are a lot cheaper and better quality in Brasil than in USA or Europe.
Why rent if you live in Brasil? That is plain stupid. After initial investment you'll pay about 300 reais a month for your untensils like gas, water and electricity.
I agree that imported stuff and cars are priced ridiculously.
I don't have a maid, don't like someone being in my apartment, i cook and clean myself. My expenses for just normal stuff, like rent, food, and basic purchases are more than I would spend in a normal advanced country and they are of a worse quality. My current apartment is perhaps the worst quality apartemt I have ever lived in but it would be considered above average in Brazil - it still costs more than what I would pay say in the US in a major city.
Anything remotely considered "luxury" is out of the ballpark expensive in Brazil.
Just one example, a brand new Honda Civic is about R$70,000 drive away in Brazil, thats US$ 40,000. In the US it would run maybe US $16,000. They are assembled in Brazil, hence the import tax would be limited. Just stupid prices.
Anything imported? forget about it, at least 2 times the price maybe 3 times the price. Just stupid things that cost $5 in the US cost $30 in Brazil. A towel you would pay $7 for at Walmart would be $30+ in Brazil. Just doesn't make sense to have the Real at $1 : R$1.75.
Just for the record : I am not american, I am european, different handles have different meaning in different places!
In order to provide one more example.
Fortaleza Iate Plaza hotel (IMHO best location there) Dec 2008-Feb 2009 I paid 1.600 Reais monthly for a 50m2 high floor apartment. Dec 2009-Feb 2010 for the same apartment I had to pay 2.600 reais. Given the exchange rate it was an 85% increase. They are insane.
Air fares also very high within Brasil.
I paid 520 euros Athens-Rio return on BA and had to pay about 300 euros Rio-Fortalesa-Rio with 5 months advanced booking.
Knowing the prices of the past I simply refuse to pay the new prices by avoiding Brasil for the time being. Far East is still very cheap and friendly.
In order to provide one more example.
Fortaleza Iate Plaza hotel (IMHO best location there) Dec 2008-Feb 2009 I paid 1.600 Reais monthly for a 50m2 high floor apartment. Dec 2009-Feb 2010 for the same apartment I had to pay 2.600 reais. Given the exchange rate it was an 85% increase. They are insane.
Air fares also very high within Brasil.
I paid 520 euros Athens-Rio return on BA and had to pay about 300 euros Rio-Fortalesa-Rio with 5 months advanced booking.
Knowing the prices of the past I simply refuse to pay the new prices by avoiding Brasil for the time being. Far East is still very cheap and friendly.I paid 1000 reales for two nights (double occupancy) at a jungle lodge in Manaus in June. There's only one Amazon: you want to see it, you pay. You don't, you stay home, or go slumming.
Anything imported? forget about it, at least 2 times the price maybe 3 times the price. Just stupid things that cost $5 in the US cost $30 in Brazil. A towel you would pay $7 for at Walmart would be $30+ in Brazil. Just doesn't make sense to have the Real at $1 : R$1.75.
Just for the record : I am not american, I am european, different handles have different meaning in different places!I get what you're saying, and I totally agree with you. Without doing the whole back and forth thing, I will say for the reasons you're already stated, several people ask me to bring towels, sheets, blank dvd's, and over the counter medicine on my trips. I was actually thinking about trying to sell some wares from my carry-on stash. With so many other things about Brasil, you need to be open-minded, and objective or you'll get burned!
ryjer
I beg to differ on some issues.
All basic needs, food etc. are a lot cheaper and better quality in Brasil than in USA or Europe.
Why rent if you live in Brasil? That is plain stupid. After initial investment you'll pay about 300 reais a month for your untensils like gas, water and electricity.
I agree that imported stuff and cars are priced ridiculously.Up until 1 year ago I thought food was one of the remaining things that was actually cheaper in Brazil. Not anymore, prices, despite the official inflation rate being 5% have risen by about 15% on my monthly food list. I like to cook, and what I spend on my monthly food purchasers now amount to slightly more than I would pay in most western countries.
I would never buy an apartment in Brazil. I have my own house in my own country, renting is much safer for me in Brazil and at only about 4% of the purchase price per year I think a good risk return scenario. To add to your monthly utility type bills you need to add condo fee, mine is R500 per month, gas & elec is about $300, internet is R$75, telephone R$100. All these bills except Internet have doubled in 5 years.
If you want cable TV, which I don't because it sux in Brazil, minimum decent package is R$ 150 per month. With HBO etc it is R$ 180.
These bills are all in my opinion equal to western type prices, or more!
I beg to differ on some issues.
All basic needs, food etc. Are a lot cheaper and better quality in Brasil than in USA or Europe.
Why rent if you live in Brasil? That is plain stupid. After initial investment you'll pay about 300 reais a month for your untensils like gas, water and electricity.
I agree that imported stuff and cars are priced ridiculously.
Labor is cheap in Brazil. Capital is NOT! For historical reasons, Brazilians do not put their wealth in banks. They buy real estate or durable goods. This drives the price of real estate in good locations way up. Bubbaboy says 4%. I think, on average it's closer to 3%, I. E. Real estate sells for 30+ time earnings (in the cities, in the barrios with appreciating value). Check the classified ads if you doubt.
Quality here? If you like to eat beans and rice, you can get good quality at low prices. Steak? Forget it. All the beef sold here in the supermarkets is tough dry and expensive. Clothes? Poorly fitting low quality and expensive (but you can get it tailored relatively cheap). It still falls apart in the washing machine after 20 washes or so. Electricity? My bill runs U$D 500 /month. I have found internet/cable/telephone to be cheaper than Bubbaboy (U$D 150 /month combined) but I've been waiting 4 months for the telephone part of the service and the internet is often flakey. Maid service? My experience is that U$D 250 / month will get you 1 day a week for 7 hours (and they often steal from you). One can live well in Rio but it is expensive or you can live like the median Brazilian: without A/C, telephone, washing machines, or plumbing that works and eating beans and rice. The schools here suck. They turn out under qualified engineers and technicians. Brazil often resembles a country of amateurs (experience amateurs that are sloppy about details). Fortunately, the girls don't need much training and I'm happy to supply it!
Quality here? If you like to eat beans and rice, you can get good quality at low prices. Steak? Forget it. All the beef sold here in the supermarkets is tough dry and expensive. Clothes? Poorly fitting low quality and expensive (but you can get it tailored relatively cheap). It still falls apart in the washing machine after 20 washes or so. Electricity? My bill runs U$D 500 /month. I have found internet/cable/telephone to be cheaper than Bubbaboy (U$D 150 /month combined) but I've been waiting 4 months for the telephone part of the service and the internet is often flakey. Maid service? My experience is that U$D 250 / month will get you 1 day a week for 7 hours (and they often steal from you). One can live well in Rio but it is expensive or you can live like the median Brazilian: without A/C, telephone, washing machines, or plumbing that works and eating beans and rice. The schools here suck. They turn out under qualified engineers and technicians. Brazil often resembles a country of amateurs (experience amateurs that are sloppy about details). Fortunately, the girls don't need much training and I'm happy to supply it!
Sounds like you're getting ripped off because you don't know any better. If you're pay $500usd per month for electricity, then same on you. I for one will not trash a country that has given me (personally) so much. My former employer purchased goods from from TUPY, a foundry in Joinville. The engineers that I worked with were very knowledgeable, and professional when dealing with us. If anything, some of my American co-workers were jerks, and showed a lack of cultural awareness when dealing with them.
And you beans and rice comment shows that same lack of cultural awareness!!
ryjer
The Big Mac index is an interesting light hearted look at whether an exchange rate is under or overvalued. The latest Big Mac index has Brazil as the third most expensive place to buy a Big Mac.
Only Norway and Switzerland are more expensive places to buy a Big Mac than Brazil. The cost of a Big Mac is more expensive in Brazil than Canada, USA, Eurozone, England, Japan, all of Asia and pretty much every other country on the planet.
http://www.economist.com/node/16646178?story_id=16646178
I really can't see how anybody can argue that Brazil is an inexpensive place to live relative to the rest of the world now.
I paid 1000 reales for two nights (double occupancy) at a jungle lodge in Manaus in June. There's only one Amazon: you want to see it, you pay. You don't, you stay home, or go slumming.
I've been going to Brasil for the last 30 years and I have a permanent residency too for the last four years.
I never visited Manaus and I will never do because I leave it for the rich and clever people.
I am not staying at home because I like to monger about 8 months per year and I can afford it easily.
I don't go slumming too. I simply go to the other side of the world for the time being where I can get better value for my money.
When the Brasilian bubble will collapse I might reconsider.
I've been going to Brasil for the last 30 years and I have a permanent residency too for the last four years.
I never visited Manaus and I will never do because I leave it for the rich and clever people.
I am not staying at home because I like to monger about 8 months per year and I can afford it easily.
I don't go slumming too. I simply go to the other side of the world for the time being where I can get better value for my money.
When the Brasilian bubble will collapse I might reconsider.Good for you. Step out and go and do whatever you want. Rich and clever? What are you talking about?
Poucolouco
08-02-10, 00:51
.. Electricity? My bill runs U$D 500 /month. I have found internet/cable/telephone to be cheaper than Bubbaboy (U$D 150 /month combined) but I've been waiting 4 months for the telephone part of the service and the internet is often flakey. Maid service? My experience is that U$D 250 / month will get you 1 day a week for 7 hours (and they often steal from you). ...
Your internet service seems in the ball park. Your faxineira at R$ 100 per day is reasonable. I am stunned to see such a high electricity bill, R$ 880 per month. You either live in a mansion or your meter needs to be replaced.
Exec Talent
08-02-10, 07:48
Your internet service seems in the ball park. Your faxineira at R$ 100 per day is reasonable. I am stunned to see such a high electricity bill, R$ 880 per month. You either live in a mansion or your meter needs to be replaced.
How did $250 a month for maid service become R$ 100 per day? Maybe when it got translated into Portuguese? Or is that português?
How did $250 a month for maid service become R$ 100 per day? Maybe when it got translated into Portuguese? Or is that português?$250 = ~ R$437.5; R$437.5 x 12 months = R$5250/yr; 52 weeks/yr -> ~R$100/wk; one day/wk -> R$100/day
Poucolouco
08-02-10, 13:30
How did $250 a month for maid service become R$ 100 per day? Maybe when it got translated into Portuguese? Or is that português?
"My experience is that U$D 250 / month will get you 1 day a week for 7 hours."
Do the math: 4.3 weeks in a month 1 day a week for 7 hours. $250 = R$438. 438/4.3 = 101.80. For simplicity I said R$ 100.
I'm still curious about that high electric bill.
Exec Talent
08-02-10, 14:22
"My experience is that U$D 250 / month will get you 1 day a week for 7 hours."
Do the math: 4.3 weeks in a month 1 day a week for 7 hours. $250 = R$438. 438/4.3 = 101.80. For simplicity I said R$ 100.
I'm still curious about that high electric bill.
So, what you are saying is a maid in Rio makes R$100 a day, i.e. R$500 a week if she works 5 days, i.e. R$2000 a month. Or, put another way she makes close to the minimum monthly salary by only working one day a week.
Wow!!!! Rio has gotten expensive.
Exec Talent
08-02-10, 15:44
So, what you are saying is a maid in Rio makes R$100 a day, i.e. R$500 a week if she works 5 days, i.e. R$2000 a month. Or, put another way she makes close to the minimum monthly salary by only working one day a week.
Wow!!!! Rio has gotten expensive.
Update: I just spoke with a maid in Rio and she wants to know where she can apply. She, and many others I know, make about R$510 a month. Some with benefits, some not. And for this amount, they work 6 days a week.
Before people run the numbers maybe they should check the numbers they are running.
So, what you are saying is a maid in Rio makes R$100 a day, i.e. R$500 a week if she works 5 days, i.e. R$2000 a month. Or, put another way she makes close to the minimum monthly salary by only working one day a week.
Wow!!!! Rio has gotten expensive.The "standard" for maid service seems to be R$70 /day for occasional service. I actually pay R$ 90 because I like my present maid a lot and she works hard, finishes early, and supplies her own lunch.
The electric bill runs R$ 900/month. This is a large 150 m2 apartment with three bedrooms. It is a barn. The windows and doors are not weather stripped (try finding the Portuguese translation of weather stripping. You can't). Hell, I can't even close the bathroom windows. When the wind is blowing outside, I can feel it blowing in the apartment. The A/C runs all the time. Some of it IS my fault. I run the A/C when the temp reaches 26. I like to be nearly as comfortable as I would be in a US apartment.
Houston Player
08-02-10, 16:36
I would like to ask the guys here who have permanent residency visas but do not live in Brazil how you get away without paying Brazilian taxes.
It was my understanding that if I got a permanent residency visa I would be agreeing to live in Brazil, and even thought I could come and go as I please that I would be required to pay Brazilian income taxes.
Update: I just spoke with a maid in Rio and she wants to know where she can apply. She, and many others I know, make about R$510 a month. Some with benefits, some not. And for this amount, they work 6 days a week.
Before people run the numbers maybe they should check the numbers they are running.For a gringo living in a short-term rental apartment who needs the services of a maid to clean his apartment, wash clothes, etc. the one-time daily fee is in the neighborhood (and this is going back to last december) of 60-75 reales. Landlords seem very eager to supply this labor source, so maybe they are taking a cut. If anyone cares to use their talents to extrapolate this amount into a yearly income figure, go run with the numbers.
The last full time maid we had got about R$500 per month. I think after 3 months she got a raise to $650. I really don't like full time maids so at the first opportunity I got rid of her. My ex girlfriend wanted her in the first place. I got rid of both of them!
Maids that are employed on a part time basis can make R$80 per day, obviously if they work 6 days a week it is way better for them, of course they don't have the job security of a full time maid, but it is way better for them financially to work on a daily type basis.
Poucolouco
08-02-10, 18:16
Update: I just spoke with a maid in Rio and she wants to know where she can apply. She, and many others I know, make about R$510 a month. Some with benefits, some not. And for this amount, they work 6 days a week.
Before people run the numbers maybe they should check the numbers they are running.
My comment was that Hertz paying R$ 100 for a day seemed reasonable to me but I have no idea what is the size of his home or the level of service he is getting.
My experience is with several women who do cleaning for me. They usually price their services by the day and the level of service. Their prices vary from R$ 60 to R$ 90 for full cleaning, including windows. I hired a maid for $R 50 a few times but I was not satisfied with her service and she took things that did not belong to her. From my experience many of these women do not work steady 5 days a week. Thus, I wouldn't conclude anything about their monthly or annual income.
Your survey of one maid is one way to determine the market. You and the many maids you know could corner the market.
Update: I just spoke with a maid in Rio and she wants to know where she can apply. She, and many others I know, make about R$510 a month. Some with benefits, some not. And for this amount, they work 6 days a week.
Before people run the numbers maybe they should check the numbers they are running.Maybe you should check your own numbers. I know what I'm paying is a little high. I also know that my maid still has at least one day open per week. That is: there are more workers available than positions. If you want to hire her, PM and I'll supply contact info. You may even be able to get her for less than the R$90 per day that I pay. Personally, I think R$90 is reasonable for somebody who'll clean the shit off the toilet and clean my dirty underwear.
Everybody also needs to be cautious about monthly numbers. R$510 per month is full time employment at minimum wage. If you actually employ a person full time, you need to worry about benefits and income taxes (employer pays! NOT the employee!) and the equivalent of social security (some 30 or 50% more I'm guessing)
Poucolouco
08-02-10, 23:43
..The windows and doors are not weather stripped (try finding the Portuguese translation of weather stripping. You can't). Hell, I can't even close the bathroom windows. When the wind is blowing outside, I can feel it blowing in the apartment....
I empathize with you on the translation. Hardware and construction materials are difficult to translate with a dictionary and many materials use the same word, e.g. massa is used for several kinds of construction paste, cement, and plaster. I tried finding calk which doesn't translate. However if you look for Selantes e Mastiques you should find material to seal those drafty windows. Try this one: http://www.qualisil.com.br/791.html
I empathize with you on the translation. Hardware and construction materials are difficult to translate with a dictionary and many materials use the same word, e.g. massa is used for several kinds of construction paste, cement, and plaster. I tried finding calk which doesn't translate. However if you look for Selantes e Mastiques you should find material to seal those drafty windows. Try this one: http://www.qualisil.com.br/791.htmlWe should switch to the "Words and Phrases" forum.
My dictionary translates caulk as calafetação. A better link for weather stripping construction terms is:
http://casa.hsw.uol.com.br/energia-casa-eficiente2.htm
Believe me, that R$ 900 electric bill is a lot of incentive to dig into the proper terms. The problem is that nobody actually applies energy efficient technology in practice in Rio. The typical "handyman" has never done anything like weather stripping and wouldn't know where to find the materials (no matter what the cost - to return to the "Real vs Dollar" forum)
Up until 1 year ago I thought food was one of the remaining things that was actually cheaper in Brazil. Not anymore, prices, despite the official inflation rate being 5% have risen by about 15% on my monthly food list. I like to cook, and what I spend on my monthly food purchasers now amount to slightly more than I would pay in most western countries.
I would never buy an apartment in Brazil. I have my own house in my own country, renting is much safer for me in Brazil and at only about 4% of the purchase price per year I think a good risk return scenario. To add to your monthly utility type bills you need to add condo fee, mine is R500 per month, gas & elec is about $300, internet is R$75, telephone R$100. All these bills except Internet have doubled in 5 years.
If you want cable TV, which I don't because it sux in Brazil, minimum decent package is R$ 150 per month. With HBO etc it is R$ 180.
These bills are all in my opinion equal to western type prices, or more!
Some thoughts of the house.
I meant that one that lives here year around should get a house, not in a condominio. Find a place in a peaceful neighbourhood and that's it.
Then about prices. Where do you pay R$ 300 for electricity and gas? I have 5 bedroom house with swimming pool and my average electricity bill is 150 R$ in the summer and about R$ 100 during the winter (no AC). Gas is R$ 36 for a bottle that lasts about 3 months. Water and sewage R$ 60. My 8 M internet and 2 cellphones and fixed line R$ 229.
My cable tv R$ 35 (ok that's "gato").
Where do you buy your food, Pao de Acucar? In here we have Prezunic and Guanabara that are cheapest ones to buy food. Also the trick is to buy in large quantities, 5 kilos of rice, beans etc. etc.
Then there are other additional things that are priceless. Possibility to order just about anything to home. Beer, farmaseuticals, pizza etc. All these come practically painless... All you need to know is what do you need....
Labor is cheap in Brazil. Capital is NOT! For historical reasons, Brazilians do not put their wealth in banks. They buy real estate or durable goods. This drives the price of real estate in good locations way up. Bubbaboy says 4%. I think, on average it's closer to 3%, I. E. Real estate sells for 30+ time earnings (in the cities, in the barrios with appreciating value). Check the classified ads if you doubt.
Quality here? If you like to eat beans and rice, you can get good quality at low prices. Steak? Forget it. All the beef sold here in the supermarkets is tough dry and expensive. Clothes? Poorly fitting low quality and expensive (but you can get it tailored relatively cheap). It still falls apart in the washing machine after 20 washes or so. Electricity? My bill runs U$D 500 /month. I have found internet/cable/telephone to be cheaper than Bubbaboy (U$D 150 /month combined) but I've been waiting 4 months for the telephone part of the service and the internet is often flakey. Maid service? My experience is that U$D 250 / month will get you 1 day a week for 7 hours (and they often steal from you). One can live well in Rio but it is expensive or you can live like the median Brazilian: without A/C, telephone, washing machines, or plumbing that works and eating beans and rice. The schools here suck. They turn out under qualified engineers and technicians. Brazil often resembles a country of amateurs (experience amateurs that are sloppy about details). Fortunately, the girls don't need much training and I'm happy to supply it!
Where do you live???
I can find first class file mignon in my local superstore with 19 R$ per kilo. Or excellent Picanha (rumpsteak) for 22 R$.
Your electricity bill is almost R$ 1000??? what are you doing? 4 10000 BTU AC's running 24/7?
Maid? I do not use maid. Its practically impossible to find anyone who doesn't steal you blind. I prefer that we do all cleaning ourselves. Lot of work, but can be done. Its part of life. Every now and then I hire someone to make major clean up, but then we'll supervise every move.
I agree on clothes, those I buy in Europe or USA. Schools are shit, but thank god I'm old enough not to worry about that.
Where do you live???
I can find first class file mignon in my local superstore with 19 R$ per kilo. Or excellent Picanha (rumpsteak) for 22 R$.
Your electricity bill is almost R$ 1000??? what are you doing? 4 10000 BTU AC's running 24/7?Most (95+%?) of the beef here is range fed. Not corn fed. It has very little to no fat content. It is dry and, if not cooked exactly right, very tough. It is NOT "prime" or "choice" by USFDA standards.
My A/C is 22, 000 BTU/hr. The apartment is 150m2 with North facing windows. The problem is the apartment is virtually open to the outside. No seals. No weather stripping. I've tried to fix some of the more egregious air leaks, but. The A/C runs almost constantly. Further, I like to be comfortable and am willing to pay for it. My thermostat is set at 24 and I run the A/C whenever the outside temp is above 26. I often work from the apartment. So, yes, virtually 24/7.
Most (95+%?) of the beef here is range fed. Not corn fed. It has very little to no fat content. It is dry and, if not cooked exactly right, very tough. It is NOT "prime" or "choice" by USFDA standards.
My A/C is 22, 000 BTU/hr. The apartment is 150m2 with North facing windows. The problem is the apartment is virtually open to the outside. No seals. No weather stripping. I've tried to fix some of the more egregious air leaks, but. The A/C runs almost constantly. Further, I like to be comfortable and am willing to pay for it. My thermostat is set at 24 and I run the A/C whenever the outside temp is above 26. I often work from the apartment. So, yes, virtually 24/7.
Well. I beg to differ of quality of the meat. I lived in USA and food is probably worst ever there, especially meat.
So you run A/C 24/7, good for you. I feel cold right this moment and couldn't run A/C even if I had to. I suggest that you get used to the climate or you'll end up paying fortune to Light.
Barra.... that explains lot
Poucolouco
08-04-10, 02:07
.. A better link for weather stripping construction terms is:
http://casa.hsw.uol.com.br/energia-casa-eficiente2.htm
Believe me, that R$ 900 electric bill is a lot of incentive to dig into the proper terms. The problem is that nobody actually applies energy efficient technology in practice in Rio. The typical "handyman" has never done anything like weather stripping and wouldn't know where to find the materials (no matter what the cost - to return to the "Real vs Dollar" forum)
Thanks, that is a useful site. I am familiar with How Stuff Works but I didn't know they had a site in Portuguese. This whole discussion probably belongs in the Living in Brasil thread.
Btw, I agree with you that quality beef should be well-marbled in the feed lot and the best quality and best tasting beef should be aged. However, I recognize that is old school thinking and today cholesterol conscious people prefer leaner beef. Numerous Texas producers and restaurants now advertise the quality of their fresh grass-fed beef. Thus, the Brasilian beef is not so different from U.S. supermarket lean.
Well. I beg to differ of quality of the meat. I lived in USA and food is probably worst ever there, especially meat.
So you run A/C 24/7, good for you. I feel cold right this moment and couldn't run A/C even if I had to. I suggest that you get used to the climate or you'll end up paying fortune to Light.
Barra.... that explains lotTo get back to the main point of my original post: At the current exchange rate, the cost of living in Rio to near AMERICAN or EUROPEAN standards is quite high in reais. Yes, agreed, BASIC needs are cheap here.
We're going to have to agree to disagree on the quality of Brazilian beef.
I'm not sure what that comment about Barra was supposed to mean. I would have preferred a different barrio but I had no choice. Barra is not really culturally part of Rio but it's not bad either, just different.
Where I grew up 10 degrees was considered chilly, not cold. My preferred temp is 20. That I have to pay R$900 per month to have 24 degrees, says something about the cost of living in Brazil to American standards.
To get back to the main point of my original post: At the current exchange rate, the cost of living in Rio to near AMERICAN or EUROPEAN standards is quite high in reais. Yes, agreed, BASIC needs are cheap here.
We're going to have to agree to disagree on the quality of Brazilian beef.
I'm not sure what that comment about Barra was supposed to mean. I would have preferred a different barrio but I had no choice. Barra is not really culturally part of Rio but it's not bad either, just different.
Where I grew up 10 degrees was considered chilly, not cold. My preferred temp is 20. That I have to pay R$900 per month to have 24 degrees, says something about the cost of living in Brazil to American standards.
I agree that we have to disagree on beef quality and on quality of the life in general. Actually I do not know what do you mean with american quality of life, there is no such thing. Also Europe is such a large continent that is not homogenous that you can't define european life either.
I mean that living in Barra is as far from living in Brasil as possible when living in Brasil. The whole neighbourhood just is an example of american worst rip off culture.
I agree that we have to disagree on beef quality and on quality of the life in general. Actually I do not know what do you mean with american quality of life, there is no such thing. Also Europe is such a large continent that is not homogenous that you can't define european life either.
I mean that living in Barra is as far from living in Brasil as possible when living in Brasil. The whole neighbourhood just is an example of american worst rip off culture.Even worse than that, Barra reminds me of Israel
Member #3439
08-08-10, 12:25
I can still laugh remembering a bubba from Alabama who had never seen a subway before Rio. Of course Rio is expensive to a mook from flyover country.
It's funny that you mention Alabama, and that people are saying that they could live in USA for the same price as Rio. Their Rio money would buy them a place only there, in low class Southern places like Alabama and Mississippi and nowhere else with decent weather and beachfront and tons of slutty girls for cheap or free...and there's no infrastructure. I think people have the wrong impression about the US. Things aren't so grand here, just in the big North Eastern cities with the old money and infrastructure that was started many years ago. Keep in mind that 100 years ago EUA was in the same status as Brasil , only came to prominence because of the SNAFUs in Europe, and has been declining and aging rapidly since ~1980's. The rest of the place outside the Northeast is underdeveloped per capita with regard to transit and cultural attractions in comparison with Rio. ~80% of the country consists of people living paycheck to paycheck with no spare money to do anything, hence why Rio and SEA aren't flooded with mythical wealthy Americans. Better to live in Rio on that same money, with nice reckless hoochies that aren't so worried about STI risk, pregnancy, etc like EUA girls. Better yet, SEA. There are plenty of places to move in SEA for half the price of Rio...or Alabama! Good food, good women..down in Indonesia you can even find some stacked ones with meat on their bones like Brasileiras.
I was in Miami a month ago. For the same money of an apartment in Copacabana I could buy a nice condo close to the beach in Miami. Better still, the Miami property would be well built, have great finishings and hot water in the kitchen. Something an apartment in Copa would lack. Plus the infrastructure is great, something that Copa lacks badly.
Then most other expenses are cheaper in Miami including big savings on the car and gas. Not to mention K Mart, Walmart, Best Buy etc, man you can buy cheap stuff there, Brazil has no equivalent of big **cheap discount** stores equal to that of say a Walmart. Yes they have Walmart in Brazil but it is twice the cost. I have been doing the numbers over the last year, I could definitely live 25% cheaper in Miami than Rio. I have been doing the numbers because I am ready to move to a place thats offers me better value. I am tired of living in Brazil with its third world infrastructure & corrupt inefficient bullshit ways when there are a ton of other places around the world that offer better value and a better standard of living.
.... I am tired of living in Brazil with its third world infrastructure & corrupt inefficient bullshit ways when there are a ton of other places around the world that offer better value and a better standard of living.
Hi Bubba, I understand your point, but for example prostitution is illegal in Miami or am I wrong ?
I was in BsAs but I did not like the attitude of girls there even if it seems to me a bit cheaper than Rio.
Never been in Colombia, girls so far as I saw and read, are great, but again dangerous too.
Many times in Russia, amazing girls, at reasonable price, if you know where to go, but you really get boring for not know what to do, I miss the ocean and beaches there.
Never been to Asia and I will never go, cause I do not like the look of girls there.
So even if Rio is getting more and more expensive, but where are these other places around the world you mentioned ?
I am asking you, cause probably you travel more or you saw places I do not know.
Thanks in advance.
Member #3439
08-09-10, 08:30
hi bubba, i understand your point, but for example prostitution is illegal in miami or am i wrong ?
yes, it is illegal in miami. possible, but not legal. before a week's worth of rio style mongering, you'd probably find yourself arrested.
i stand corrected by bubba that you you could get something in florida for copa prices. when i think of people moving to rio, i don't think of them moving to copa, ipanema, barra. bus and metro rides are cheap and plentiful. i'd go to some other cheaper neighborhood to make my residence, and then ride to zona sul when i felt like it.
i can't say that i know anyone in the us who moved here in recent years for reasons other than education or work. not exactly a destination for fun. restrictive vice laws are enforced with zeal. also, it's moving at lightning speed toward a half-assed failed implementation of european socialism. if my personal situation allowed me to leave, i'd be out of here.
Having lived in Rio for 5 years now I have to admit that I only monger a few months of the year. Basically local girlfriends are so plentiful you really don't need to monger in Rio. Having said that the occasional visit to a T is still a good night out.
I could live in Miami and just bang local women, always had decent luck there, probably because they are more latin and open minded than your average american.
The best thing about Miami is it is only an 8 hour flight to Rio. If one wanted to go visit Termas, just a matter of going for a week. Then returning to a much better place to live.
Avenida Rio Branco, 45 - Loja E. There is a travel agency on the bottom floor. Just go up the steps and it is right there. They gave me BR 1.81 per dollar, nice. The name of the cambio is Casa Behar.
Sorry, don't know the address. Let's say you are at Rio Branco 156. Stay on that side of the street, going north and you'll cross Vargas. Continue to the next corner past Vargas and stop. Look diagonally across the street and you see a black building on the corner. That's it. Cross the street, go up the stairs at the left side of the opening at the bottom of the building, and there you are in the cambio.
Many times in Russia, amazing girls, at reasonable price, if you know where to go, but you really get boring for not know what to do, I miss the ocean and beaches there.
Thanks in advance.What would you consider reasonable? 50Euro=30mins? I have heard it is more expensive than that for escorts in the lobby of any major Moscow hotel.
Avenida Rio Branco, 45 - Loja E. There is a travel agency on the bottom floor. Just go up the steps and it is right there. They gave me BR 1.81 per dollar, nice. The name of the cambio is Casa Behar.Thanks Voyajer1 for contributing the address. What were the Copa cambios giving during that same period? This is rate only for high volume exchanges (ie more than $500us at a time?) Is this place consistently 5-10 points higher? Makes one wonder how they do it?
Member #3439
08-26-10, 03:10
Thanks Voyajer1 for contributing the address. What were the Copa cambios giving during that same period? This is rate only for high volume exchanges (ie more than $500us at a time?) Is this place consistently 5-10 points higher? Makes one wonder how they do it?
Avenida Rio Branco, 45 - Loja E. There is a travel agency on the bottom floor. Just go up the steps and it is right there. They gave me BR 1.81 per dollar, nice. The name of the cambio is Casa Behar.
With regard to this cambio in Centro, I was exchanging anywhere from 100-300 USD at a time. They gave 1.85 when Visa/Cirrus ATM was giving only 1.77/USD. Once they gave it to me all in R5 bills and pissed me off, claimed it was all they had. It's the wrong kind of bulge to have in one's pants in Rio. They were cracking up in Bar 22 when I paid for a session with this big stack of 5's.
Centro being outside the main tourist zones, most things from the price of a shirt in Saara market to the exchange rate at the cambio, is negotiable within reason. If they give you a hard time about a rate, suggest 10 points higher and they'll meet you somewhere in the middle. Cambios can do it because they don't have the overhead of a large financial organization like the ones running the ATM's. Just a couple employees, guards in the back, and the rent. They're probably all fronts for other truly profitable activities anyway.
Brazil Specialist
08-27-10, 11:41
Maybe you should check your own numbers. I know what I'm paying is a little high. I also know that my maid still has at least one day open per week. That is: there are more workers available than positions. If you want to hire her, PM and I'll supply contact info. You may even be able to get her for less than the R$90 per day that I pay. Personally, I think R$90 is reasonable for somebody who'll clean the shit off the toilet and clean my dirty underwear.
Everybody also needs to be cautious about monthly numbers. R$510 per month is full time employment at minimum wage. If you actually employ a person full time, you need to worry about benefits and income taxes (employer pays! NOT the employee!) and the equivalent of social security (some 30 or 50% more I'm guessing)
It is 110% more. Brazil is expensive. Not counting your potential of getting sued in labor court and having to pay thousands to lawyers and your maid. Not counting your accountant to calculate all the fees.
So that comes to R$ 1100 per month to employ a minimum wage person.
I do pay R$ 100 per day to my maid. She pays about 25 of that for transportation. That also is Brazil, public transport is not subsidized but a profitable business.
Brazil Specialist
08-27-10, 11:44
So, what you are saying is a maid in Rio makes R$100 a day, i.e. R$500 a week if she works 5 days, i.e. R$2000 a month. Or, put another way she makes close to the minimum monthly salary by only working one day a week.
Wow!!!! Rio has gotten expensive.
Not quite right. I pay 100 a day to my maid, and so does her Brazilian employer. She spends 25 of that for transportation, which leaves her with 75 a day.
And yes, paid by day maids make a decent income. Even in the far away areas where they live they make at least 60 a day. Monthly salary is lower but comes with lots of perks, vacations, 13th salary, etc. And most maids that are paid monthly get free housing and food.
What would you consider reasonable? 50Euro=30mins?..
We are totally out of topic, but however....right, that's what I paid not far as couple of days ago in FKK in Germany for top notch girls, indeed a great deal, probably even for the ones not living, as me, close to Germany...
Exec Talent
09-03-10, 15:26
DOWN.
under 1.73 to USD right now. Other important info out of Brazil -- BOVESPA up on Petrobras' plan to sell $32B of new stock.
http://www.bloomberg.com/news/2010-09-03/bovespa-stock-index-gains-on-petrobras-share-sale-plan-u-s-jobs-report.html
Brazilian economy still strong resulting in the Central Bank keeping the SELIC rate at 10.75%.
http://www.bloomberg.com/news/2010-09-03/brazil-s-economy-slows-less-than-expected-boosting-rate-increase-outlook.html
http://www.bloomberg.com/apps/quote?ticker=BZSTSETA:IND
What all this means is that traveling to and staying in Brazil, and particularly Rio as we approach high season, will just keep getting more and more expensive.
As their currency gains against the dollar, many Brazilians are traveling to the US partly to take advantage of their new found purchasing power. Lately every flight from Rio to Atlanta has been oversold.
DOWN.
under 1.73 to USD right now. Other important info out of Brazil -- BOVESPA up on Petrobras' plan to sell $32B of new stock.
http://www.bloomberg.com/news/2010-09-03/bovespa-stock-index-gains-on-petrobras-share-sale-plan-u-s-jobs-report.html
Brazilian economy still strong resulting in the Central Bank keeping the SELIC rate at 10.75%.
http://www.bloomberg.com/news/2010-09-03/brazil-s-economy-slows-less-than-expected-boosting-rate-increase-outlook.html
http://www.bloomberg.com/apps/quote?ticker=BZSTSETA:IND
What all this means is that traveling to and staying in Brazil, and particularly Rio as we approach high season, will just keep getting more and more expensive.
As their currency gains against the dollar, many Brazilians are traveling to the US partly to take advantage of their new found purchasing power. Lately every flight from Rio to Atlanta has been oversold.It's getting ugly with that dollar, I try to give up my seat hoping that it is oversold if they give me some good sky miles and of course a 1st class ticket on the next flight.
Kid Cisco
Once again I am bewildered by the exchange rates in the local cambios. LB cambio in nossa sra gave me 2.85 for one pound sterling, way better than the 2.65 my bank was giving me from the cash machine. But curiously they were giving 2.30 to the euro, my bank gave me 1.195 euro to sterling which works out at 2.65 real to the pound. I wish I had brought more cash, certainly need it with the ridiculous prices they are charging in some of the bars and restaurants in copa.
Knowing how some of the board contributors like to keep up with economic trends, I thought I'd maybe pass on this well-written article.
http://www.project-syndicate.org/commentary/castaneda30/English
If what I've been reading on the financial press latelay is right, the Real is gonna go down over the rest of the year. Probably to last year values.
It's not the markets. It's the same Brazilian Government that's forcing the Real to go down.
With the local currency so high, their exports were taking a beat. Therefore..
Let's see.
Brazil Specialist
09-24-10, 10:13
I would like to ask the guys here who have permanent residency visas but do not live in Brazil how you get away without paying Brazilian taxes.
It was my understanding that if I got a permanent residency visa I would be agreeing to live in Brazil, and even thought I could come and go as I please that I would be required to pay Brazilian income taxes.
I wonder about this too.
Lots of countries have double taxation treaties with Brazil. My country does. So you pay taxes in one countries and deduct it from the taxes in the other country. So I honestly declare everything and pay almost no income taxes here.
The US does NOT have such a treaty. So you pay taxes twice. Insane. I think as a non-resident ex pat, you can get 80 000 a year free of US taxes.
You can try to cheat, but this might backfire.
If you don't declare, you even lose your CPF number. And without CPF you cannot even buy a fridge or get decent phone service.
Brazil Specialist
09-24-10, 10:32
Good site for exchange rates
http://economia.uol.com.br/cotacoes/
Not sure if this has been posted before.
The nice thing is that they post black marked rates, cambio turismo etc and with some skills, you can get a listing of the rates for the entire month or so.
Click on dolar paralelo
then click on "historico da moeda'
But sometimes the rates are quite different from what Globo has in the newspaper. Like these days, they have Compra 1.70 and venda 1.80
Globo has 1.80 1.90. will call my cambista to see who is right. Or do you know what you got in the last few days? 1.70 or 1.80??
http://www.oanda.com/currency/converter/ is another good site, but there is only the official rate.
I wonder about this too.
Lots of countries have double taxation treaties with Brazil. My country does. So you pay taxes in one countries and deduct it from the taxes in the other country. So I honestly declare everything and pay almost no income taxes here.
The US does NOT have such a treaty. So you pay taxes twice. Insane. I think as a non-resident ex pat, you can get 80 000 a year free of US taxes.
You can try to cheat, but this might backfire.
If you don't declare, you even lose your CPF number. And without CPF you cannot even buy a fridge or get decent phone service.
There is only one way to avoid income tax: not having any income. Brazil can tax any income, anywhere in the world if one has permanent visa. Having permanent visa means that one resided in Brasil permanently.
Also if one stays away continuoysly more than 2 years the permanent visa is annuled.
Exec Talent
10-01-10, 16:23
USD:BRL -- 1.68 --> going down; BRL:USD -- .59 --> going up
EUR:USD -- 1.37 --> going up
Good if you are holding BRL or EUR :) not good if you are holding USD.
Forgot to mention the Yen, USD:JPY (despite Japan's best efforts ) -- 83.3
Good if you are holding JPY too :)
Anyone who believes that the US economy really ever did get better must live in DC which, because of all the bloodsucking, never did feel the pains of the recession.
USD:BRL -- 1.68 --> going down; BRL:USD -- .59 --> going up
EUR:USD -- 1.37 --> going up
Good if you are holding BRL or EUR :) not good if you are holding USD.
Forgot to mention the Yen, USD:JPY (despite Japan's best efforts ) -- 83.3
Good if you are holding JPY too :)
Anyone who believes that the US economy really ever did get better must live in DC which, because of all the bloodsucking, never did feel the pains of the recession.
ET................with regards to the US economy getting better, for me is based on factors other than currency rates where I monger. Looking at new job creation, and the manufacturing field turning around is a positive factor. Also new unemployment claims tapering off. It's far from being fixed, but I can see reason to be slightly optimistic.
ryjer
Are you guys following the debates to the upcoming elections this sunday? Anyone watched the debate on Friday night? I caught the end of it and watched some parts of it on youtube, but still undecided which one would be better for both Brasil and us the frequent visitors to this bundaful lund. And from what I saw, Dilma was the one that made the least impression on me, followed by Serra while Plinio and Marina made the better impression. For those who live in Brasil and follow closely Brasilian politics and the current elections, which of the 4 presidential candidates would be the best for both Brasil and us, the visitors?
Interesting article in today's Wall Street Journal about Brazil's currency: http://online.wsj.com/article/SB10001424052748704029304575525843350635582.html. If you don't have time to read it, the gist of the article is that the surge in the value of the real is a two-edged sword for Brazil. The downside of the surge is that it is hurting Brazil's export, which are less in demand on the international market because of their higher cost in dollars or euros. A Goldman Sachs computer model determined that the real is highly inflated and that its true value should be 2.65 to the US dollar. Here's hoping for the sake of us mongers it heads in that direction.
Interesting article in today's Wall Street Journal about Brazil's currency: http://online.wsj.com/article/SB10001424052748704029304575525843350635582.html. If you don't have time to read it, the gist of the article is that the surge in the value of the real is a two-edged sword for Brazil. The downside of the surge is that it is hurting Brazil's export, which are less in demand on the international market because of their higher cost in dollars or euros. A Goldman Sachs computer model determined that the real is highly inflated and that its true value should be 2.65 to the US dollar. Here's hoping for the sake of us mongers it heads in that direction.
2.65 sounds about right. Having said this, unfortunately currencies can stay overvalued for a long time.
2.65 sounds about right. Having said this, unfortunately currencies can stay overvalued for a long time.The next Brasilian president -- Dilma Rouseff -- will pursue a weak real policy. She will slap a tax on foreign investment inflows. She will also ramp up social spending to help the poor. Add to that, spending for the 2014 World Cup...plus the 2016 Olympics will depress the value of the real over the next few yrs. The central bank will raise interest rates to counter inflation. But, I wouldn't be surprised to see US$1 = R$3/3.5 in the coming yrs.
I dont agree its overvalued. Brazil has a real economy. The US has a printing press economy. We have to much debt for the dollar to get strong again. These politicians don't have the balls to do the right thing, and cut spending and benefits.
Heck, I'd be happy with just 2.0, my first trip to Brazil back in May of '08, I got hit hard with the 1.6 rate. Fortunately, I was only there for 6 days, basically slumming it on lodging and food while focusing my money on the termas (I like to do duplas). Otherwise the final bill would have been even higher than it already was.
I hope the next administration will try to bring down the real but it won't be easy. Lots of developing countries currently have the same problem; it seems only the Chinese dragon has the size and economic clout to artificially keep the value of their currency down. And don't forget about our debt: wars, entitlements, military-industrial complex, bailouts for the rich, agri/pharma/oil subsidies, public-sector unions, et al. Despite the Tea Party movement, I don't see how we're going to keep the debt down in the short run; there's just too many entrenched powerful interests at play here.
That means plenty of internal pressure to keep the dollar down in the years to come.
Just got back. Last week, the rate I received on the black market were between 1.74-1.76.
If I am not mistaken, the BRL gov. recently increased import taxes to counter the depreciating dollar. However, the dollar tanked further.
Considering our economy is in limbo, and the BRL economy is booming (7 or 8th largest in the world, and climbing), I do not see the dollar becoming stronger.
For those who live in Brasil and follow closely Brasilian politics and the current elections, which of the 4 presidential candidates would be the best for both Brasil and us, the visitors?
Probably Serra, would be the lesser evil and have better economic policies and plans to work on infrastructure. Sao Paulo is a progressive state and things actualy work there. After every election, regardless of who wins, there is a surge in inflation and price increases, to pay for all the campaign promises, kept or not.
There is now more hope that he might pull it off, by gathering up enough votes from Marina, but the ignorant masses will all vote with the other one, who is a carpet muncher, hates mongers and men in general, due to previous unfavourable experiences with us trained mil types in the 70´s. The bolsa familia, will also impact negatively on the influx of new workers into the GP market. Why work, if one can make enough to live misearably on without working.
Exec Talent
11-15-10, 02:50
http://www.bloomberg.com/news/2010-11-14/brazil-will-have-room-to-cut-interest-rate-in-2011-mantega-says.html
If you believe what you read, the Real is headed upward.
Interesting article in today's Wall Street Journal about Brazil's currency: http://online.wsj.com/article/SB10001424052748704029304575525843350635582.html. If you don't have time to read it, the gist of the article is that the surge in the value of the real is a two-edged sword for Brazil. The downside of the surge is that it is hurting Brazil's export, which are less in demand on the international market because of their higher cost in dollars or euros. A Goldman Sachs computer model determined that the real is highly inflated and that its true value should be 2.65 to the US dollar. Here's hoping for the sake of us mongers it heads in that direction.
This isn't necessary a question of fundamentals - the gold price isn't, either. There's little value to gold except that it shines and that it's small enough to put in your safe. It's just that the major currencies (e.g. Euro debt crisis, US happy-go-lucky money printing) are so f***** up that many investors don't really trust them as a store of value any more.
Azn Safado
12-14-10, 04:14
Interesting news vid on Brazil. At around the 9 minute mark, a historian says Brazil is not a serious country, too loose to run a booming country. At around the 11:30 mark, the same guy says they won't be ready for the World Cup because "Brazilians don't mind to be late". Ha. Well said!
http://www.cbsnews.com/video/watch/?id=7143554n
Bill Mogan
12-18-10, 02:10
On the subject of USA. Any country that lets their citizens buy their home and when mortgage becomes overwhelming and stress hits, they can just drop the house keys in the "letterbox "and walk without any legal ramifications was always going down path of self destruction.
What a crazy system!
Man, I was looking at my currency app on the iPhone, and the 52k week avg is 1. 90. Hopefully, we will have a better year in 2011.
Man, I was looking at my currency app on the iPhone, and the 52k week avg is 1. 90. Hopefully, we will have a better year in 2011.My bad, misread the stats. It's the 52 week high.
-What happened to the edit option for posts?
Poucolouco
12-25-10, 16:43
My bad, misread the stats. It's the 52 week high.
-What happened to the edit option for posts? Although your membership permissions show you can edit, The Edit option seems to be functional only immediately after you post. After that your post is etched in stone. Seems useless as a forum function but Jackson has his hands full fine tuning this new system so I haven't complained about it. Yet.
Example. My original post was time-stamped 13:43. I added this comment at 13:46.
Exec Talent
01-07-11, 15:46
I constantly monitor Brazilian inflation numbers and here are the latest.
http://www.bloomberg.com/news/2011-01-07/brazil-consumer-prices-rose-0-63-in-december-from-november.html
Brazilians are now coming to the US in droves to buy cheap (made in China) merchandise. If it weren't for the guys on the oil rigs and airline employees, family and friends, there would be hardly any Americans traveling. Contrast that with the 4:1 exchange days.
Speaking of contrast, this video shows how just how fast the BRIC countries are catching up.
http://www.youtube.com/watch?v=jbkSRLYSojo&feature=player_embedded#!
Member #3439
01-19-11, 05:45
Has anybody visited this cambio in Rio lately? If so, how were the rates compared with the major sites?
It's the place just north of the intersection of RB and Vargas, on Rua Visconde de Inhaúma. If this place is no longer good, I will need to make a plan B for exchanging cash in Centro in a few weeks. Six months ago, they were trading at much better rates than those given on the exchange rate websites, but I have no idea of their practices now.
"Brazil's central bank is trying to balance the need to.
Fight rising prices with the risk that a hike in borrowing.
Costs will attract even more capital inflows. Which would.
Push its already overvalued currency even higher."
http://www.reuters.com/article/idUSN1813502520110119
Exec Talent
01-19-11, 18:30
"Brazil's central bank is trying to balance the need to.
Fight rising prices with the risk that a hike in borrowing.
Costs will attract even more capital inflows. Which would.
Push its already overvalued currency even higher."
http://www.reuters.com/article/idUSN1813502520110119Inflation has been my worry all along. It is what will keeps the poor poor and puts a halt to economic growth. I see a lot of offers to sell merchandise without interest but of course the interest is built into the inflated price. Raising interest rates while it might curb the inflationary spiral, it also will put the brakes on the overall economy. If there is a time to watch Brazil it is now.
http://www.businessweek.com/news/2011-01-14/brazil-will-offer-1-billion-in-swaps-to-weaken-real.html
http://www.cityam.com/markets-and-investments/real-unappreciative-%E2%80%93-brazil-pulls-out-the-plug.
I'm not an economist or anything, but this seems good for mongering. At least in the near term!
Rodeo
http://www.businessweek.com/news/2011-01-14/brazil-will-offer-1-billion-in-swaps-to-weaken-real.html
http://www.cityam.com/markets-and-investments/real-unappreciative-
%E2%80%93-brazil-pulls-out-the-plug.
I'm not an economist or anything, but this seems good for mongering. At least in the near term!
RodeoUnfortunately, the swaps were done, but ineffective against the Real.
Today, BCB raised interest rates by. 5, it is now at 11. 25. I expect more foreign monies to be dumped into Brasil. News from BBC below.
BBC. Jan. 21, 2011.
"The rise, from 10. 75, is the first under President Dilma Rousseff and central bank head Alexandre Tombini, both of whom took office this month. Inflation was 5. 91% last year and is forecast to remain above 5% in 2011. But the rate rise risks sucking in foreign money, adding to pressure on the already overvalued Brazilian real.The central bank warned that the rate hike may be just the start of a series of rises to curb inflation.Capital inflows from outside Brazil have soared as investors flee record-low rates in more developed countries.The strengthening of the real has hit Brazil's manufacturers hard because their exports have become more expensive. But Brazil needs to do more to rein in a massive consumer credit boom which has helped fuel the economy's rapid growth.The economy, Latin America's largest, grew more than 7% in 2010 and is expected to grow between 4. 5% and 5% this year. Other anti-inflation measures have included a big increase in banks' reserve requirements to hold back lending."
Member #3439
01-22-11, 08:52
But the rate rise risks sucking in foreign money, adding to pressure on the already overvalued Brazilian real.Yes, overvalued. This 'inorganic' growth, for lack of a better word, is probably unsustainable and I'll explain why. I know some mid and large cap companies that were shipping both white and blue collar work from the US to Brasil as fast as possible in 2004-2006 due to the cheap labor. People were sent down to train Brasilians and the idea was that they would learn and take off on their own. The 2.75 BR / USD in the 2005 time frame made it attractive, but there was always a lot of rework due to lack of skills and education in the workforce there so the savings were less than expected. It was theirs to lose, but in every case, they did. They became both arrogant and complacent and never really took off on their own. They were usually late or having bad quality, or both, which meant sending people back down to Brasil to fix things. This babysitting costs money, and humiliates/pisses off the people in upper management who told board members that switching to low-cost Brasilian services and manufacturing were the best thing since sliced bread. Furthermore, during this time, the increasing valuation of their currency was narrowing their only advantage, price.
Since then, those companies brought the work back to the US and some to Canada because the rework and babysitting wasn't worth the hassle at less than 2:1 BR / USD. Rich country labor costs more, but the people are educated, typically fearful for their jobs, and are indoctrintated from Kindergarten-on to do jobs right and on-time. Big companies seem to be realizing that both Brasil and India are not what they were touted to be, and going elsewhere. Some large businesses continue to arrive in the Brasilian market, but IMO it's more like an aftershock. Like buyers of a hot stock, they are likely to realize that the value was gone by the time they discovered it. A lot of small businesses will continue to arrive, but it takes a lot of them to make a difference in the economy. BR is no longer cheap and other countries in US/EU and Asia have better educated workforces and better infrastructure, so I think Brasil's moment in the economic spotlight will be short lived. In my humble estimate, I think the economy is getting ready to flatten out. More importantly. I think puta prices will rise a little until 2013, flatten, spike just before the 2016 Rio Olympics, then fall back to present levels. I think we could make Rio average P4P costs a new topic on the Iowa Electronic Market, why not.... :) Final comment..if Brasil could instill the work ethic of their putas into their vanilla workers, they could be the next China. I love how the Brasileiras typically take personal pride in getting you off, versus some other-country girls who could care less as long as they get paid.
Exec Talent
01-22-11, 20:26
I love how the Brasileiras typically take personal pride in getting you off, versus some other-country girls who could care less as long as they get paid.Agree. No where else does there seem to be such a concern for you having a good time.
Exec Talent
01-26-11, 12:59
Walking on the beach in Copacabana today I noticed that coconuts now are selling for R$4. 00. I remember in 2000 they were around 1-1. 50. While the increase over the years hasn't been exactly level I have seen the price creep up in increments of 50 centavos. I decided to plot some data and see just how much (in terms of coconuts) we have lost in purchasing power over the years. The results are attached.
Some assumptions I made were that the cost of coconuts was linear at the rate of about 10. 34% a year. The exchange rate was based upon the exchange at 12/31 each year. The net result is that in BRL terms the increase from 2000 to 2010 was about 170. In USD terms about 212. So, yes there were some times along the way when we have been better off, but in purchasing power terms today, Americans have to ask themselves is that coconut on the beach really worth $2. 40?
Extending this analysis a little further to another tourist commodity. What should the girl who in 2000 was charging R$150 charge today? My thoughts are that it is not so much the pricing that is off but the quality of the girls and services delivered (particularly the duration).
Agree. No where else does there seem to be such a concern for you having a good time.Ah, with respect, I do not agree. Russian, Ukrainian, and Kazakh women are also on the top of my scale.
Member #3439
01-28-11, 07:56
Extending this analysis a little further to another tourist commodity. What should the girl who in 2000 was charging R$150 charge today? My thoughts are that it is not so much the pricing that is off but the quality of the girls and services delivered (particularly the duration).Check this. If you take the GNI per capita for a given country and divide it by the same for Brasil, then divide the going rate per hour in your country by that result, you get a good idea.
http://www.nationmaster.com/graph/eco_gro_nat_inc_percap-gross-national-income-per-capita
So for the USA I am going to say the equivalent cost of the P4P is 350 USD and that tells me that Brasileiras should be charging about 50R. Sure, there are things that this doesn't account for. But the number I'm coming out with here is about equivalent to the cost in other countries with similar living conditions, but without as much tourism.
Thinking back to just 2005, in the Sao Paulo whiskeria called Bacos, R100 bought an hour with a stunner better than what Luomo offers, and that was including anal, CIM, BBFS optional for no fee, TLN after the session for a R100 barfine + breakfast....and then they wanted to talk about marriage/green card in the boite. Mostly girls from places outside far from SP, and they lived and slept in the termas in the off hours. No hustle like today, the girl would sit there all night sipping a drink. I remember asking the manager to take some away because they were getting too clingy/cuddly and making me drowsy. :) I can only imagine what it would have been like back in the 80's or before. Must have been heaven. Now, for people who don't have business in Brasil and just come seeking fun and sun, they're better off paying more for the flight to SEA and enjoying lower costs and better treatment on the ground.
Ken_Apples
01-28-11, 17:27
Now, for people who don't have business in Brasil and just come seeking fun and sun, they're better off paying more for the flight to SEA and enjoying lower costs and better treatment on the ground.From people who have ears to the ground (living permanently in Brazil since many years) , I hear the same thing.
Still have to reconfirm roumors / reports myself before writing Brazil off. Ironicly, It could be that I have better brazilian p4p back in my own european hometown than I have in Brazil. But lets wait for a couple of month before handing the overall goldmedal in best p4p GFE to some other destination.
Best regards, Ken Apples
Walking on the beach in Copacabana today I noticed that coconuts now are selling for R$4. 00. I remember in 2000 they were around 1-1. 50. While the increase over the years hasn't been exactly level I have seen the price creep up in increments of 50 centavos. I decided to plot some data and see just how much (in terms of coconuts) we have lost in purchasing power over the years. The results are attached.
Some assumptions I made were that the cost of coconuts was linear at the rate of about 10. 34% a year. The exchange rate was based upon the exchange at 12/31 each year. The net result is that in BRL terms the increase from 2000 to 2010 was about 170. In USD terms about 212. So, yes there were some times along the way when we have been better off, but in purchasing power terms today, Americans have to ask themselves is that coconut on the beach really worth $2. 40?
Extending this analysis a little further to another tourist commodity. What should the girl who in 2000 was charging R$150 charge today? My thoughts are that it is not so much the pricing that is off but the quality of the girls and services delivered (particularly the duration). Several weeks ago, OGlobo had an article about the price of a coconut. They stated that the avg. price of a coconut has now surpassed the avg. price of a beer.
Beach Star
01-30-11, 19:21
Bad for the exchange rate.
This from Ö Globo" today:
Tradução do português para inglês.
Arrival of seven transatlantic International Cruise Terminal at Pier Maua spawned a movement of 40 000 tourists in the area. The record number is due to the amount of people on board each ship. In 2007, also with seven berth, the city hosted 28, 000 tourists. Last Sunday, with six ships in port, the number was 30 thousand people.
Exec Talent
02-04-11, 17:18
The BOVESPA is falling that is. As I write this it is down 2. 2% on worries that the government will raise interest rates to curb inflation. Usually the BOVESPA mirrors the DOW but today it is on its own with the DOW fairly flat. The dollar which has been sinking the last few days is now at 1. 675.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=avvr8EWAV3rU
They offered me to pay in €/$ at Monte Carlo. I was not aware that it was possible. I don't know if they are the only termas to offer it. The exchange rate was fairly good (no special commission, charge) and even better than in one hotel I went before. I used this service. Moreover the girl at Monte Carlo entrance was really nice (a middle age, chestnut hair, nice looking).
Interesting to know it, especially for your last visit at termas, if you fall in love more than you imagined!
Tank Not Mt
02-10-11, 00:26
Haven't been back for too long-any changes in Monte Carlo?
How was the quality / Quantity?
They offered me to pay in €/$ at Monte Carlo. I was not aware that it was possible. I don't know if they are the only termas to offer it. The exchange rate was fairly good (no special commission, charge) and even better than in one hotel I went before. I used this service. Moreover the girl at Monte Carlo entrance was really nice (a middle age, chestnut hair, nice looking).
Interesting to know it, especially for your last visit at termas, if you fall in love more than you imagined!
Haven't been back for too long-any changes in Monte Carlo?
How was the quality / Quantity?I have not been able to switch this post to Rio thread.
To give you a short answer, I am not able to compare as it was my first time in MC.
I found the equipment goods (bar area is quite small as in L'uomo). And it did not give me the.
Impression they made works / modifications recently.
I was there on Sunday afternoon and there were about 10-15 girls and only few guys. Quality.
Of the girls was average (below L'Uomo, to me). But I found a nice looking blond girl, spent quite a long.
Time with her (before & after 1hour in the bedroom). So I did not really looked at all the girls.
I really enjoyed my time there, with this girl.
L'Uomo was better, to me, but MC is worth visiting.
Member #3439
02-24-11, 05:04
I recommended it last year and still recommend it. The place was giving me 1.69R/USD last week when the xe.com rate was 1. 66.
Address: 45 Avenida Rio Branco
I've also noticed that Luomo takes USDs at about xe.com rates, both last week and on previous trips.
Member #3439
02-26-11, 07:38
Keeping things in perspective, the new minimum monthly wage is $R545. Think about that the next time consider a Copa termas or get the big offer from a Barbarella girl.
http://online.wsj.com/article/BT-CO-20110215-713737.html
I will be heading to Brasil in a few months, and I expect the dollar to keep falling. I am at home in the USA right now. I would like to exchange dollars for Reis now before the dollar gets weaker.
What would be my best options? Any suggestions? Thanks!
Poucolouco
03-14-11, 19:24
I will be heading to Brasil in a few months, and I expect the dollar to keep falling. I am at home in the USA right now. I would like to exchange dollars for Reis now before the dollar gets weaker.
What would be my best options? Any suggestions? Thanks! Google foreign currency exchange in your city. The exchange rate will be a spot rate, not the same as you will find on-line. Also Brazilian Reais are not easy to find in all cities in the US. Betting on foreign exchange is about as risky as the commodity market. While the dollar could get weaker, the Real could fall as well.
Exec Talent
03-15-11, 02:48
http://www.bloomberglink.com/gatherings_overview.php?gathering=44
Anyone else going?
Exec Talent
03-15-11, 21:25
Look whose stock market is holding up better than almost every other country.
Member #3439
03-20-11, 06:31
I will be heading to Brasil in a few months, and I expect the dollar to keep falling. I am at home in the USA right now. I would like to exchange dollars for Reis now before the dollar gets weaker.
What would be my best options? Any suggestions? Thanks! Forex. Com is one way.
I usually try to cash in my Reais on exit but, once I return, always find a lot of Reais that were forgotten in my pockets or pack and now I look forward to using them in about 6 months and having gained USD. . Brasil is supposed to be cutting back on spending internally, public works, etc to curb inflation. Who knows what will happen. Brasilians are on-high to the point of learning arrogance / nationalism, but rapid economic growth is an anamoly and doesn't last forever. Business traveler mongers hope Brasil continues to have this growth (based on the minerals and oil) so that we can come back frequently to do business with them. Sex tourists hope that it crashes so that they can get reasonable pussy prices, but less biz travel means the flight prices go up. This growth is Brasil is not due to Brasilians moving up in the world from a technological or financial standpoint that can sustain growth, but rather it is due to export of raw materials like minerals and oil that are highly competitive on price, IMO. Eventually, the manipulated markets that they sell to will crash, or Africans with the same resources will undercut them on price. We will see!
This growth is Brasil is not due to Brasilians moving up in the world from a technological or financial standpoint that can sustain growth, but rather it is due to export of raw materials like minerals and oil that are highly competitive on price, !Front page of Folha SP about 10 days ago, story is dollar investment in Brazil for first 2 months of 2011 has exceeded total of dollars incoming for entire year 2010. There's the growth for you.
Front page of Folha SP about 10 days ago, story is dollar investment in Brazil for first 2 months of 2011 has exceeded total of dollars incoming for entire year 2010. There's the growth for you.Growth or bubble that is getting ready to burst?
Eric Cartman
03-20-11, 22:34
Growth or bubble that is getting ready to burst?I'd say nearly everyone here I talk to thinks it's a bubble, but nobody can predict when it bursts. This is based on talking to our brazilian employees, lawyers, accountants, shop owners etc. It's like when I moved to San Diego in 2001 and housing prices were starting a crazy climb. I knew it was a bubble. I just didn't know it would burst 7 years later. If you bought in those 7 years and sold, you still did pretty well. I waited and waited and waited until 2006 and didn't do nearly as well.
Exec Talent
03-30-11, 20:48
Hope those of you who were just in Rio not too long ago have held onto your Reais. Today's official exchange is under 1. 63.
Hope those of you who were just in Rio not too long ago have held onto your Reais. Today's official exchange is under 1. 63.Yeah, it is disappointing. I hope it will not tank further.
Hope those of you who were just in Rio not too long ago have held onto your Reais. Today's official exchange is under 1. 63.Those of you in Sampa good luck getting better than 1. 55.
The taxes Brazilians have to pay compared to Americans is huge. Alot of it is going into building up for the World Cup and Olympics. It may make or break them afterwards. With growth comes problems, same ones as the US when people start doing "creative financing" to keep up.
My Lord, the dollar just continues to drop. Thats not a surprise, however, the rate at which it is dropping is rather depressing.
Hello, everyone, I am in Sao Paulo right now. On Thursday, I exchanged dollars at the cambio in Shopping Paulista. It is one level down and used to be called ACTION. I got 1. 5151!
Last week, in Curitiba I got 1. 61 from the ATM. The pussy pricing is close to US now. Most girls in the boites quote 300-400R but will settle for 250R which is $159. 25@1. 57 exchange rate.
For Bomboa for example. 200R entrance + 250R gdp + 90R room = 540R = $343. 95!
Hello, everyone, I am in Sao Paulo right now. On Thursday, I exchanged dollars at the cambio in Shopping Paulista. It is one level down and used to be called ACTION. I got 1. 5151!
Last week, in Curitiba I got 1. 61 from the ATM. The pussy pricing is close to US now. Most girls in the boites quote 300-400R but will settle for 250R which is $159. 25@1. 57 exchange rate.
For Bomboa for example. 200R entrance + 250R gdp + 90R room = 540R = $343. 95! The airfare has gone up alot also. It is why I am in England now where where it is actually now cheaper than Brazil.
"BRASILIA (Dow Jones).Brazil's central bank bought USA dollars at a spot market auction Thursday for 1. 5944 Brazilian reais to the dollar, the bank said."
"BRASILIA (Dow Jones).Brazil's central bank bought USA dollars at a spot market auction Thursday for 1. 5944 Brazilian reais to the dollar, the bank said."The Brazilian government is trying all they can to reduce the value of the Real. They speak quite freely that its value is a very real concern for the economy. Having said that no central bank can intervene into the FX market and change the value of their currency on a sustainable basis. Yes it will move the currency for a few days, but they are simply dwarfed by the FX markets and don't have enough cash to support the market on a long term basis. Hence the above comment doesn't really mean much to the medium term of the value of the currency.
The number 1 reason the Real is so strong is due to high interest rates in Brazil. Large banks, hedge funds and investors can borrow US Dollars at 1% and then deposit those funds into high yielding bonds in Brazil and gain 12% + per year. That is a nice 1% return per month. They will just keep doing this until it is no longer profitable to do this.
Exec Talent
04-11-11, 19:34
The number 1 reason the Real is so strong is due to high interest rates in Brazil. Large banks, hedge funds and investors can borrow US Dollars at 1% and then deposit those funds into high yielding bonds in Brazil and gain 12% + per year. That is a nice 1% return per month. They will just keep doing this until it is no longer profitable to do this.Now everyone is going to do it.
The Brazilian government is trying all they can to reduce the value of the Real. They speak quite freely that its value is a very real concern for the economy. Having said that no central bank can intervene into the FX market and change the value of their currency on a sustainable basis. Yes it will move the currency for a few days, but they are simply dwarfed by the FX markets and don't have enough cash to support the market on a long term basis. Hence the above comment doesn't really mean much to the medium term of the value of the currency.
The number 1 reason the Real is so strong is due to high interest rates in Brazil. Large banks, hedge funds and investors can borrow US Dollars at 1% and then deposit those funds into high yielding bonds in Brazil and gain 12% + per year. That is a nice 1% return per month. They will just keep doing this until it is no longer profitable to do this. Yes, I am aware of such returns, as I have investments in Brasil. I noted the article for info purposes. It is a matter of time before the USD goes screaming into the abyss.
The Brazilian government is trying all they can to reduce the value of the Real. They speak quite freely that its value is a very real concern for the economy. Having said that no central bank can intervene into the FX market and change the value of their currency on a sustainable basis. Yes it will move the currency for a few days, but they are simply dwarfed by the FX markets and don't have enough cash to support the market on a long term basis. Hence the above comment doesn't really mean much to the medium term of the value of the currency.
The number 1 reason the Real is so strong is due to high interest rates in Brazil. Large banks, hedge funds and investors can borrow US Dollars at 1% and then deposit those funds into high yielding bonds in Brazil and gain 12% + per year. That is a nice 1% return per month. They will just keep doing this until it is no longer profitable to do this.On Bloomberg they said the gov't stopped buying to intervene with rising Real and just increase interest rates to combat inflation. I don't know how people can live there with half the salary and double the cost of most goods. I was thinking about living there but now it is just not a good time with the exchange rate and inflation.
Member #3439
04-30-11, 08:57
The taxes Brazilians have to pay compared to Americans is huge. Alot of it is going into building up for the World Cup and Olympics. It may make or break them afterwards. With growth comes problems, same ones as the US when people start doing "creative financing" to keep up.Seems like the WC and Olympics are just a temporary expansion, then they will have a huge layoff of workers afterward. How could it make them? I am asking for informational purposes and not to contradict what you are saying. I didn't see the reason for even making a bid for the Olympics, except as a matter of national pride. It's not like they need more stadiums or hotel / restaurant industry jobs.
Exec Talent
07-08-11, 14:34
http://news.yahoo.com/brazils-12-month-inflation-highest-6-years-153523821.html
And, you can forget about the poor and low crime. You can tell them over and over again keep your eye on inflation... But, do they ever listen? Governments do have tools to control inflation if they only knew how to use them. Where is a good economist when you need one? No, not Larry Summers, I said a GOOD economist.
Speaking of inflation, the airlines have raised ticket prices through the roof in anticipation of Brazilian vacation month - July. However, when you check utilization there are plenty of seats still available.
Member #3439
07-09-11, 08:12
http://news.yahoo.com/brazils-12-month-inflation-highest-6-years-153523821.html
And, you can forget about the poor and low crime. You can tell them over and over again keep your eye on inflation. But, do they ever listen? Governments do have tools to control inflation if they only knew how to use them. Where is a good economist when you need one? No, not Larry Summers, I said a GOOD economist.Hi ET,
So if the inflation continues, won't it help us Brasileira hunters in the future 5 years out by making the situation for Brasilieras more like in was in the past, circa as recent as 2005? I am no economist and the currency markets are a mystery to me, but I am guessing that if the purchasing power of the Real falls in Brasil, eventually the value of their currency vs ours falls fast. Correct? I wish no ill on the Brasilian people, but long for those days when a GDP would happily stay overnight for the equivalent of 30 USD, and you would have to ASK her to leave, even after she already had the money in her purse. Vanilla non-mongering guys were there finding non-pros that looked to them for a better life and took them outside Brasil, and they actually stayed. I remember back then, gringos got special treatment. Today, I hear of unmarried non-pro expat Brasilian girls moving back to Brasil. It's only a matter of time before the married ones start leaving their foreign SOs with divorce money and GIG plane ticket in hand. And now WGs have no propensity to do LT cause they have their own food and place to stay and just want to fuck, cash in, and run home. My saudades say that anything that puts it back to 2005 status, six short years ago before the big boom, is positive.
Exec Talent
07-09-11, 17:55
Hi ET,
So if the inflation continues, won't it help us Brasileira hunters in the future 5 years out by making the situation for Brasilieras more like in was in the past, circa as recent as 2005? I am no economist and the currency markets are a mystery to me, but I am guessing that if the purchasing power of the Real falls in Brasil, eventually the value of their currency vs ours falls fast. Correct? I wish no ill on the Brasilian people, but long for those days when a GDP would happily stay overnight for the equivalent of 30 USD, and you would have to ASK her to leave, even after she already had the money in her purse.I don't think the environment you describe will ever return to Rio. Many GDPs have traveled to Europe and experienced the big money there. Economic conditions in Rio have provided others opportunities they wouldn't have had otherwise. One thing I've noticed starting about two years ago is that women of color are finally being employed in businesses that previously had been the purview of only whites (and men). Brazil now has a female president. Women are beginning to think about themselves and their futures differently. Maybe I am the only one, but I think it is a good thing.
http://www.youtube.com/watch?v=kIDWgqDBNXA
http://www.youtube.com/watch?v=m9B7wRLV6r8&feature=related
Just because a woman is independent, doesn't mean she still can't be sexy.
Eric Cartman
07-10-11, 21:09
For shits and giggles, I want to point out that one of my visiting business associates was just offered R$1. 35 per USD$1. 00. This was at the Fazano hotel in Ipanema, which is notorious for being overpriced. But seriously, that rate is offensive. Xe.com and the official FX rate was around R$1.55
Cash Flow Burden Astronomical and Rising.
-Average rate of interest on consumer loans 47, up from 41% in 2010.
-Consumer debt service burden was 24 per cent of disposable income in 2010, slated to rise to 28 per cent in 2011. This compares with 16% for an 'overburdened' US consumer and a mid-single digit reading for other emerging markets such as China and India.
-Debt service burden for the so-called 'middle class' in Brazil has now breached 50% of disposable income.
-Delinquencies in Brazil (defaults in excess of 15 days) have begun to move up rapidly, from 7. 8 per cent to 9. 1 per cent of total loans between December 2010 and May 2011.
-Delinquencies are now rising at a very hectic rate. They have risen at 23 per cent in the first five months of this year in absolute terms or at an annualised rate of 55 per cent.
-Normally credit indicators cyclically lag the economic cycle. When they begin to deteriorate before any economic weakness it usually represents a structural problem relating to underlying cash flow or underwriting weakness in the quality of credit – Brazil has both problems.
http://www.ft.com/intl/cms/s/0/3186742e-a24e-11e0-bb06-00144feabdc0.html#axzz1RmbkPtZ0
Exchange is lowest in 12 yrs per ogloblo:
$1USD = $R1. 53
Blame the mess in DC.
Exchange is lowest in 12 yrs per ogloblo:
$1USD = $R1. 53
Blame the mess in DC.And I leave August 11th for Rio! I am not liking these numbers!
I'm not exactly sure what they did, but with a little help from the Brazilian government, the dollar rose slightly to $R1. 56. However, as I post this, it's at $R1. 55.
http://oglobo.globo.com/economia/mat/2011/07/27/governo-anuncia-medidas-cambiais-dolar-tem-alta-expressiva-924985057.asp
Best of luck Harp
Eric Cartman
07-28-11, 02:59
I'm not exactly sure what they did, but with a little help from the Brazilian government, the dollar rose slightly to $R1. 56. However, as I post this, it's at $R1. 55.
http://oglobo.globo.com/economia/mat/2011/07/27/governo-anuncia-medidas-cambiais-dolar-tem-alta-expressiva-924985057.asp
Best of luck HarpBraz Gvt announced a higher tax on currency inflows for derivative trading (increased IOF fee) , I think.
You would have to think the end is coming for the high Real. There are more and more of these articles appearing in Financial papers. Remember, the Real is so strong because of all that foreign money coming into the country which largely sits in high interest yielding accounts. When the tide turns, all that money comes out, with interest and at pace! Now I am not predicting when the real will depreciate, if I knew the timing exactly I could be a billionaire overnight. However the chances that it will get hit sometime in the next year or 2 is much greater than not!
http://www.bloomberg.com/news/2011-07-31/banks-in-brics-signaling-credit-risks-as-bad-loans-curb-growth.html
Since the downgrading of the US, the dollar has risen steadily: as of this posting 1. 00 USD = 1. 63084 BRL. However, the markets are recovering, and that usually lowers the dollar, or so it seems.
Ever notice in O Globo they post 2 different quotes for the dolar / Real? A commercial quote and a tourist quote. I seem to remember when exchanging cash for reais in a Rio cambio I got closer to the tourist rate which is significantly higher today. 1.73 compared to 1. 83. I used an ATM only once and don't remember what the rate was closer to but I do remember additional fees using an ATM that's one of the reasons why I prefer cash (I might try opening up an HSBC savings acct online with ATM card). Just curious about peoples opinions / experiences about this spread and if they get it better using cash or ATM?
Ever notice in O Globo they post 2 different quotes for the dolar / Real? A commercial quote and a tourist quote. I seem to remember when exchanging cash for reais in a Rio cambio I got closer to the tourist rate which is significantly higher today. 1.73 compared to 1. 83. I used an ATM only once and don't remember what the rate was closer to but I do remember additional fees using an ATM that's one of the reasons why I prefer cash (I might try opening up an HSBC savings acct online with ATM card). Just curious about peoples opinions / experiences about this spread and if they get it better using cash or ATM?Commercial. To import / export goods.
Turismo (Tourist). Applies to travellers exchanging reais for dollars and dollars for reais.
Holy Smokes!
Current exchange rate as I post this:
1. 00 USD = 1. 78463 BRL.
5 centavo jump, I believe, since Friday. Wow! Hope this trend continues.
BTW, A commercial exchange rate is often referred to as a wholesale or corporate rate, and is generally used for larger transactions of funds. For example, commercial rates range between 1 to 3 cents below the market rate, whereas tourist rates are 10 to 15 cents below the market rate. Begs a question: What is a market rate? The market or interbank rate, is the rate at which banks are trading amongst themselves for sums in excess of one million dollars USD or equivalent currency. They are not available to private individuals. I'd bet Bill Gates, Warren Buffet and his like, can get THAT rate.
http://www.commbankuk.co.uk/foreign_exchange/faqs/
Bottom line, the More USD, (thousands, Millions,) you want to exchange the Better the exchange rate.
Exec Talent
09-21-11, 14:48
Brazilians are so screwed. They have been battling domestic inflation and now they will need to battle the rapidly increasing prices of foreign goods. Let's say that someone bought a $500 iPad a few weeks ago when the exchange rate was around 1. 6 (R$800). Now, with the exchange rate at 1. 8, that same iPad would need to a sell for R$900. Screwed.
. I used an ATM only once and don't remember what the rate was closer to but I do remember additional fees using an ATM that's one of the reasons why I prefer cash (I might try opening up an HSBC savings acct online with ATM card). Just curious about peoples opinions / experiences about this spread and if they get it better using cash or ATM?I have a Citibank account in the US.
I withdraw my money from HSBC machines down here in the south and get pretty much the same rate as posted on XE. Com for that day.
Eg.
Sept 02. I received 1. 6051 and XE posted 1. 6312.
Sept 06. I received 1. 6521 and XE posted 1. 6605.
Sept 14. I received 1. 7073 and XE posted 1. 7302.
Now that I look at it. Citibank is giving me the posted rate from XE. Com at closing the day before the transaction.
Can't ask for better than that.
BTW. Today's posted rate. 1.84074
Why is oanda. Com showing 1. 71 rate but xe. Com is showing 1. 84. They are usually close. Can someone in brazil tell me what they are actually getting at the cambio. Looks like I need to take a trip to brazil soon.
Azn Safado
09-22-11, 00:21
Why is oanda. Com showing 1. 71 rate but xe. Com is showing 1. 84. They are usually close. Can someone in brazil tell me what they are actually getting at the cambio. Looks like I need to take a trip to brazil soon.I'm living in Rio now and so far, all the cambios that I have gone to no longer will sell Reals above what I consider "market" or xe. Com is quoting. For instance, I used to go to Casa Universal Cambio on NS Copacabana 371 and they would sell Reals for about 4 or 5 cents (this message board won't let me type in decimals without trying to format it, so I'm spelling it out) above what xe was quoting. So if the rate was 1. 75 they would give me 1. 80 for a $600 USD transaction. This cambio had been treating me nicely the last 3 years like this. So far, in the last two weeks, they have been giving me Reals right at xe rates or a cent below, eg, xe quotes 1. 70 and they are giving 1. 69.
I also tried the following cambio places this morning in Centro when xe. Com was quoting 1. 80:
Alianca Cambio on R Miguel Couto 1. 77
Casa Behar on Ave Rio Branco 45 1. 78
Another cambio next door to Casa Behar 1. 75
It's pretty amazing how fast the Real has fallen in the last couple of days. Even this morning when I woke up at 8 am in Rio, I checked xe and it said 1. 785 and then tonight the rate is at 1. 884. I don't think I've ever seen that big of a Real drop against the US dollar in one day. I'm going to try my ATM card tomorrow and calculate what rate I get after the ATM fee (not sure if they charge me 3% foreign transaction fee too).
The rate is all over the place. We went from 1. 88 yesterday to 1. 78 now. All in 24 hours. The dollar index is 79 this morning. It was 73 a few weeks ago. I wish I was in brazil to get the 2 to 1 that is on the way.
The rate is all over the place. We went from 1. 88 yesterday to 1. 78 now. All in 24 hours. The dollar index is 79 this morning. It was 73 a few weeks ago. I wish I was in brazil to get the 2 to 1 that is on the way.As I post this, XE has the exchange rate at: 1. 00 USD = 1. 90350 BRL.
Yahoo finance has it at 1. 00 USD = 1. 8799.
Oanda has it at 1. 00 USD = 1. 80355BRL!
No discrepancy in the exchange rate between the USD and EUR, they all have it at 1. 00USD =.74EUR.
I'm going to try my ATM card tomorrow and calculate what rate I get after the ATM fee (not sure if they charge me 3% foreign transaction fee too).Did you figure out your rate? Which ATM did you use?
Azn Safado
09-23-11, 00:20
As I post this, XE has the exchange rate at: 1. 00 USD = 1. 90350 BRL.
Yahoo finance has it at 1. 00 USD = 1. 8799.
Oanda has it at 1. 00 USD = 1. 80355BRL!
No discrepancy in the exchange rate between the USD and EUR, they all have it at 1. 00USD =.74EUR.
Did you figure out your rate? Which ATM did you use?I did some more shopping this afternoon, when XE was quoting around 1. 885 at 3:30 PM Brasil time. I tried HSBC but it didn't have ATM PLUS on it, so I ended up going to Citibank. I withdrew R$400, which tacked on a R$12, 00 service fee. The receipt said the exchange rate with the fee was 1. 82. I just checked my bank statement and it didn't tack on any other fees besides the R$12, 00 convenience fee. Then 5 minutes later, I went to Casa Behar again on Rio Branco 45 to check rates and they were selling Reals for 1. 83. So much for the ATM route! Maybe HSBC ATM might somehow give me a better exchange rate. The HSBC in Centro wouldn't take my Wells Fargo ATM, but I've used other HSBC ATMs in Copa and Ipanema that did. I guess it depends on if the HSBC machine has VISA / MC / ATM PLUS or whatever that network is.
It seems neither the ATM nor cambio could give me XE 1. 885 quoted rate today. I mean 1. 82 and 1. 83 is pretty far below the 1. 885 XE rate. Can anyone briefly explain what's going on with the cambio places? Are the days of getting at or above XE quoted rates over? Is it because Brazil doesn't have that much demand to buy US Dollars or is it cambio specific? This is even harder for me to figure out with the wild rate swings during the day.
Simpleminded
09-23-11, 01:35
I got here on Friday night the 16th. On Saturday I wanted to exchange some money but most of the places were closed. I asked Frederico from the wonderful city apartments if he knew anyplace and he called someone at best exchange on ns copacabana ave. The going rate was 1. 73 and he was able to get me 1.72. This was only after I mentioned his name and the guy made a call to confirm. He was trying to give me 1.67 when I walked in.
Today I saw the rate was 1.885 and wanted to exchange some money for my next trip. I tried 5 or 6 places and they all quoted 1.80 except for one place quoting 1.77. I was going to go back to best exchange and see if I can use Frederico's name again but I tried one of the cambios a few doors down first. He offered 1. 83 and I figured it was good enough since I was only doing $500. This big move has everybody moving their markets real wide it looks like. When the price was moving 2 to 4 cents a week they would give you better than the offered rate sometimes, but usually it was 1 penny or so off the published rate. I guess sometimes they needed more dollars. This time though I think they have no idea whats going to happen next so they do not want to take any risks. The place that quoted me 1.77 was 1.77-2.00. What a joke!
The place I got 1.83 is on Ns Copacabana Ave. If you are coming from the park by Monte Carlo and are heading towards Balcony lets say, It is on the right hand side with a string of like 3 or 4 cambios / travel agents next to each other with the farthest one being best exchange. They are about 3 or 4 blocks from the park by MC.
Azn Safado
09-23-11, 04:33
.
The place I got 1. 83 is on Ns Copacabana Ave. If you are coming from the park by Monte Carlo and are heading towards Balcony lets say, It is on the right hand side with a string of like 3 or 4 cambios / travel agents next to each other with the farthest one being best exchange. They are about 3 or 4 blocks from the park by MC.Cool that's good to know. I've walked by Best Exchange many times but never went in for a quote because Casa Nova Universal Cambio on NS Copacabana 371 always gave me the best rate. But I guess with these wild swings, we won't be getting XE rates at these cambios. It seems the best cambio rate is 3 to 5 cents below XE in the past week or so.
Azn Safado
09-23-11, 23:37
Hmmm I guess the exchange rates can differ quite a bit between various ATM machines. Today in Laranjeiras at 3:00 PM Brasil time, I was able to get 1. 89 (according to the receipt) when XE was quoting 1. 83. I withdrew R$800. The receipt showed $427. 19 and a rate of 1. 89. I checked my bank statement which showed $427. 19 + 5. 00, totaling $432. 19. Based on that figure, it looks like I got a rate of R$800\$432. 19 for a true rate of 1. 85. That's still very good and slightly above XE quoted rate. This ATM machine was an isolated Caixa machine with Visa Plus on it, but I think it said Citibank at the bottom of the ATM machine. This is kind of weird though because I did a withdrawal yesterday from a Citibank branch and the rate I had was well below XE 1. 89 as it gave me 1. 82.
HungryStud101
09-24-11, 16:35
Hmmm I guess the exchange rates can differ quite a bit between various ATM machines. Today in Laranjeiras at 3:00 PM Brasil time, I was able to get 1. 89 (according to the receipt) when XE was quoting 1. 83. I withdrew R$800. The receipt showed $427. 19 and a rate of 1. 89. I checked my bank statement which showed $427. 19 + 5. 00, totaling $432. 19. Based on that figure, it looks like I got a rate of R$800\$432. 19 for a true rate of 1. 85. That's still very good and slightly above XE quoted rate. This ATM machine was an isolated Caixa machine with Visa Plus on it, but I think it said Citibank at the bottom of the ATM machine. This is kind of weird though because I did a withdrawal yesterday from a Citibank branch and the rate I had was well below XE 1. 89 as it gave me 1. 82.What are the Termas giving? I usually get a decent deal by exchanging currency at the Rio Termasas. This is better than the airport and there are no fes like the ATMs. The one exception was Cafe Show in Joinville that was giving 1. 2!
Damn it. Lookks like I misstimed my trip by 1 month.
Azn Safado
09-24-11, 18:23
What are the Termas giving? I usually get a decent deal by exchanging currency at the Rio Termasas. This is better than the airport and there are no fes like the ATMs. The one exception was Cafe Show in Joinville that was giving 1. 2!
Damn it. Lookks like I misstimed my trip by 1 month.I've never used US cash in a Terma before. Only used my credit card at Luomo and 4x4 where you can pay all fees (entrada+cabine+girl) on a credit card. From some of my past credit card statements, it seems they give ok rates but not better than ATM.
Eric Cartman
09-25-11, 07:06
If it makes you feel any better, I moved USD$30K back from Brazil to the USA mid week last week and the best rate I could get from HSBC (my bank, my company's bank) was R$1. 87 (including fees). That was only after calling the exchange desk for commercial exchange (not tourist) and bitching out the guy who has helped our company with big capital inflows.
I think the actual PTAX rate that day (Brazil central bank) was around 1. 83.
The temporary spike lasted only a week, per xe:
1. 00 USD = 1. 80500 BRL
Powered by vBulletin® Version 4.1.4 Copyright © 2024 vBulletin Solutions, Inc. All rights reserved.