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After hitting a high of $R3.25 about 11 days ago, the Dollar has been declining steadily. It's below $R3 now. XE currently has it at 1.00USD = 2.95800BRL. WTF! :(
After hitting a high of $R3.25 about 11 days ago, the Dollar has been declining steadily. It's below $R3 now. XE currently has it at 1.00USD = 2.95800BRL. WTF! :(I knew there would be a drop off for the dollar because at some point people start to sell to cash in on profits. That was to be expected. Let's see how far down it goes and levels off.
Azn Safado
04-27-15, 01:49
I knew there would be a drop off for the dollar because at some point people start to sell to cash in on profits. That was to be expected. Let's see how far down it goes and levels off.The dollar also weakened on Friday due to higher than expected jobless claims. This Wednesday, Petrobras is going to reveal the audited results of their quarterly earnings, so if it's worse than expected then the dollar will rise otherwise the dollar will fall further against the real.
The dollar also weakened on Friday due to higher than expected jobless claims. This Wednesday, Petrobras is going to reveal the audited results of their quarterly earnings, so if it's worse than expected then the dollar will rise otherwise the dollar will fall further against the real.Even if worse than expected, they will fudge the numbers so as to not create fear among Brazilian investors. I don't trust them. Thats just me.
Currently at 1.00USD = 2.90595BRL at XE.
AltoBomGosto
05-03-15, 12:47
Currently at 1.00USD = 2.90595BRL at XE.According to my corretora de cambio adviser, the real will keep getting stonger against de USD, as far as Banco Central will raise interests.
So the dream of cheap Rio is not going to materialise soon.
According to my corretora de cambio adviser, the real will keep getting stonger against de USD, as far as Banco Central will raise interests.
So the dream of cheap Rio is not going to materialise soon.Hopefully your adviser is wrong. Currently, 3 to 1 sounds great to me. Hopefully it has level off after last couple of weeks.
Exec Talent
05-04-15, 20:06
Hopefully your adviser is wrong. Currently, 3 to 1 sounds great to me. Hopefully it has level off after last couple of weeks.The only way anyone makes money in any market is because of movement. Doesn't matter if it is up or down.
Individual investors, unless trading on insider information, are only guessing and riding a big wave. The media plays along otherwise there would be nothing to report.
Every once in awhile someone gets a slap on the wrist to make it all appear legit. And, then there are the guys (or gals) who [CodeWord140] (http://isgprohibitedwords.info?CodeWord=CodeWord140) the wrong person off and end up serving time.
[QUOTE=ExecTalent;1716159]The only way anyone makes money in any market is because of movement. Doesn't matter if it is up or down.
Individual investors, unless trading on insider information, are only guessing and riding a big wave. The media plays along otherwise there would be nothing to report.
Every once in awhile someone gets a slap on the wrist to make it all appear legit. And, then there are the guys (or gals) who http://isgprohibitedwords.info ([URL)?CodeWord=CodeWord140][CodeWord140]url] the wrong person off and end up serving time.
I agree with your statements. So much happening in the inside circles, its just wild. I take risks, but I am not a participant in foreign markets such as Brazil.
Just some limited action in Europe, but aside from that, I stick to investments in the states. However, I do keep tabs on Brazil because I do consume products and services there.
Exec Talent
05-20-15, 15:50
http://finance.yahoo.com/news/banks-fined-2-5-billion-140901678.html
The current market upswing brought to you by the same thieves who engineered the financial crisis.
It really is as simple as buy low and sell high. It also helps to know when to buy or sell.
Nudge, Nudge. Say no more. Know what I mean? Does she photograph?
Hi, seeking info from anyone recently been in Rio (zona sul area).
What is/was the exchange rate offered at the cambios around Copacabana area?
Many thanks!
ForceSteeler
05-22-15, 18:41
Hi, seeking info from anyone recently been in Rio (zona sul area).
What is/was the exchange rate offered at the cambios around Copacabana area?
Many thanks!Feds are Rating Rates so look for the Brazil Real to crash.
Hi, seeking info from anyone recently been in Rio (zona sul area).
What is/was the exchange rate offered at the cambios around Copacabana area?
Many thanks!Yesterday the rate was $1=R3. 03 when I converted some dollars to reals on Copa.
So today's news of 1st qtr results confirms how the brazilian economy is slowing down in 2015. However, expectations are that it will only be for 2015, as they expect it to pick up in 2016. I don't believe it. They (Government) will say anything to save their own ass (Bank accounts). Lets see how all of this plays out.
Media reporting they expect dollar to fetch around 3.20 max during 2015, and then Real will begin to recover some in 2016. I call bullshit, and expect more than 3.20 per dollar this year. Especially, if the Fed hike up rates later this year in the US. Fingers crossed :-)
Media reporting they expect dollar to fetch around 3.20 max during 2015, and then Real will begin to recover some in 2016. I call bullshit, and expect more than 3.20 per dollar this year. Especially, if the Fed hike up rates later this year in the US. Fingers crossed :-)Dollar steadily climbing. Hit 3.17 yesterday. I'm hoping it goes higher too.
ForceSteeler
05-30-15, 12:54
So today's news of 1st qtr results confirms how the brazilian economy is slowing down in 2015. However, expectations are that it will only be for 2015, as they expect it to pick up in 2016. I don't believe it. They (Government) will say anything to save their own ass (Bank accounts). Lets see how all of this plays out.
Media reporting they expect dollar to fetch around 3.20 max during 2015, and then Real will begin to recover some in 2016. I call bullshit, and expect more than 3.20 per dollar this year. Especially, if the Fed hike up rates later this year in the US. Fingers crossed :-)If the Feds raise interest rates in September, I put my money with Goldman Sachs as they expect the Real to drop to R3. 80-R4. 10, almost 4 to 1 later this year. I can expect it to pickup a little with the Olympics Hype but once that event is over. Brazil will go back to the.
Same old 3rd World Country that it always was. High Taxation, Government Corruption, Little to No Entrepreneurship among its people, is the reason why 3rd world countries stay 3rd World!.
Exec Talent
07-03-15, 16:56
UBS has whistleblower deal in Brazil currency investigation
http://finance.yahoo.com/news/ubs-whistleblower-deal-brazil-currency-120301981.html
So unless your informant is on the inside and you are investing enough to warrant receiving the insider's information, then best not to involve yourself in a rigged game. Oh, and you could go to jail, but that is only likely to happen if you ticked off the wrong people and have your own cooking show. Burnt someone's bread, or refused a pickle when offered, along the way is my guess.
What exposure does Brazil have to Greece disrupting the EU?
Will that push the Real any lower?
Dollar hit new high this year: 1.00 USD = 3.28 BRL. This time last year it was at 2.22 BR. But the F'n Copa Citibank ATM was only dispensing 3.19 BRL. It's usually only a couple cents short of the rate. Rat Bastards! :mad:
This is double what I was getting when I was there last. If only my
favourite old haunts were still operational or in full swing and I would.
be back in Rio yesterday.
Or low, depending on your perspective. On XE: 1.00USD = 3.34BRL. 1.00EUR = 3.67BRL. The Brits have it even better: 1.00 GBP = 5.19BRL. Limey Bastards :)
http://www.wsj.com/articles/brazils-real-at-weakest-level-in-12-years-1437760326
ForceSteeler
07-25-15, 10:39
Or low, depending on your perspective. On XE: 1.00USD = 3.34BRL. 1.00EUR = 3.67BRL. The Brits have it even better: 1.00 GBP = 5.19BRL. Limey Bastards :)
http://www.wsj.com/articles/brazils-real-at-weakest-level-in-12-years-1437760326Yeah Its looking good plus the US Fed has not even raised rates yet. The Fed will raise rates in September so I can predict the Real being 3. 60 to even 4 to 1 per dollar. Its a blessing since I'm heading to Brazil winter time.
Yeah Its looking good plus the US Fed has not even raised rates yet. The Fed will raise rates in September so I can predict the Real being 3. 60 to even 4 to 1 per dollar. Its a blessing since I'm heading to Brazil winter time.3. 65 today. 35 c in a day.
3. 65 today. 35 c in a day.To the Dollar? Where you getting that? I just checked xe.com and its at 1.00USD = 3.36BRL.
To the Dollar? Where you getting that? I just checked xe.com and its at 1.00USD = 3.36BRL.I was staring right -at- xe's numbers, 3 or 4 times during the evening while doing other work.
It showed an intraday peak of 3. 72, and a close of 3. 36.
But I don't see any of that data today.
I'll still take 3. 4 x however. That it shows today.
Dollar gaining again. Inching closer to $R3.50. :D In the time it took me to write this, it went up a penny. Currently at XE.com 1.00USD = 3.47BRL. I'll wonder where it will be at the end of the day. Also, it's looking like the Citibank ATM is taking a day to catchup to the current rates when it's increasing.
Dollar cracked the are $3. 50 mark. The Exchange rate, as I write, this on XE.com 1.00USD = 3.54BRL. :D Last time it was this high was in 2002!
ForceSteeler
08-07-15, 03:08
Dollar cracked the are $3. 50 mark. The Exchange rate, as I write, this on XE.com 1.00USD = 3.54BRL. :D Last time it was this high was in 2002!Real is now over 355.00 Per $100 US Dollars.
By Middle 2016 They are predicting the Real to be 6 to 1. That is insane, But Brazilians will just raise the price of everything, My Friend Came Back From Brazil and he told me all the termas raised there rates. Monte Carlo wants $R480 Right now, and 4 x 4 is $R380.
http://longforecast.com/fx/brazilian-real-exchange-rate-forecast-for-2015-2016-and-2017.html
Raising the prices in termas for just gringos or everyone?. Can't imagine the locals being
too happy with that seeing their salaries are paid in reals.
Real is now over 355.00 Per $100 US Dollars.
By Middle 2016 They are predicting the Real to be 6 to 1. That is insane, But Brazilians will just raise the price of everything, My Friend Came Back From Brazil and he told me all the termas raised there rates. Monte Carlo wants $R480 Right now, and 4 x 4 is $R380.
http://longforecast.com/fx/brazilian-real-exchange-rate-forecast-for-2015-2016-and-2017.html
ForceSteeler
08-08-15, 08:38
Raising the prices in termas for just gringos or everyone?. Can't imagine the locals being
too happy with that seeing their salaries are paid in reals.Yeah he told me a lot locals are boycotting Monte Carlo. I think its stupid to raise the price, for the past 2-3 Years all I have seen is the locals in the termas. Since Help Closed, I rarely see a Gringo in a termas, maybe 1-2, the rest of the crowd are Brazilian locals usually. We will see how it plays out. I'm just happy the Brazil real is devaluing. I know termas prices are raising but things like food, and eating at restaurants etc. The price won't rise too much. So I can save a lot of money if it hits 4 to 1.
Real is now over 355.00 Per $100 US Dollars.
By Middle 2016 They are predicting the Real to be 6 to 1. That is insane, But Brazilians will just raise the price of everything, My Friend Came Back From Brazil and he told me all the termas raised there rates. Monte Carlo wants $R480 Right now, and 4 x 4 is $R380.
http://longforecast.com/fx/brazilian-real-exchange-rate-forecast-for-2015-2016-and-2017.htmlI'm going to Rio in November. I was happy with 3 to 1, but if I get 3. 50 to 1 or more, that will be nice.
ForceSteeler
08-25-15, 03:52
I'm going to Rio in November. I was happy with 3 to 1, but if I get 3. 50 to 1 or more, that will be nice.It might be 4 to 1. China is in a massive sell off (Which is Brazil Biggest Partner) and the US Federal Reserve will raise rates in Sept. So by November it should be 4 to 1. But remember these damn Brazilians will just raise there rates to compete with the dollar. So if your going Termas hoping, you might not see any real savings, The only thing will cost cheap is the food and lodging. Its a great time to travel with the US Dollar, Everything is looking like 2000-2006 Rates.
It might be 4 to 1. China is in a massive sell off (Which is Brazil Biggest Partner) and the US Federal Reserve will raise rates in Sept. So by November it should be 4 to 1. But remember these damn Brazilians will just raise there rates to compete with the dollar. So if your going Termas hoping, you might not see any real savings, The only thing will cost cheap is the food and lodging. Its a great time to travel with the US Dollar, Everything is looking like 2000-2006 Rates.I go everywhere. Termas, Prives and pay per minute spots. My wingman and I are going to Sao Paulo for 4 days then Rio for 7 days. The termas can only raise the rates so high so fast. Too much competition.
I did the numbers and with the current exchange rate Termas are a good deal. Prives and pay per minute spot are even better. I hope you are right and it hit 4 to 1 in November.
FuckAfMedDig
08-25-15, 19:28
I go everywhere. Termas, Prives and pay per minute spots. My wingman and I are going to Sao Paulo for 4 days then Rio for 7 days. The termas can only raise the rates so high so fast. Too much competition.
I did the numbers and with the current exchange rate Termas are a good deal. Prives and pay per minute spot are even better. I hope you are right and it hit 4 to 1 in November.I'm getting 5. 2 reais for a UK pound. Thats crazy. Thats 2. 2 reais more than I was getting per Pound in April 2013.
Yes they raise prices but minute spots don't as much.
I'm getting 5. 2 reais for a UK pound. Thats crazy. Thats 2. 2 reais more than I was getting per Pound in April 2013.
Yes they raise prices but minute spots don't as much.Nice, last Oct. 2014 the highest I got was 2. 50 to 1, now its 3. 55 to 1. We can not complain. Its nice all the way around.
ForceSteeler
08-25-15, 20:50
Nice, last Oct. 2014 the highest I got was 2. 50 to 1, now its 3. 55 to 1. We can not complain. Its nice all the way around.Yup The Real Just Hit $3. 60 for every $1. 00 US Dollar. When I was there in October 2013, I Got $2. 15, in 2014 , In November 2014 I got $2. 60, and now its damn near $3. 60, almost $100 Real Extra, I Really hope it goes to 4 to 1 or maybe in 5 to 1 with China Slow Down and The USA Fed Rasing Rates, I heading there in Early December so It will be a Merry Christmas!
Nice, last Oct. 2014 the highest I got was 2. 50 to 1, now its 3. 55 to 1. We can not complain. Its nice all the way around.Right now the Real is 3. 61 to 1. Very nice.
Right now the Real is 3. 61 to 1. Very nice.I live in Sao Paulo, with the exchange rates being what they are, my September rent will be almost US $70.00 cheaper than it was in August. I'm thinking I'll pay my rent six months in advance anticipating a drastic drop in the BRL $. What do you guys think?
I live in Sao Paulo, with the exchange rates being what they are, my September rent will be almost US $70.00 cheaper than it was in August. I'm thinking I'll pay my rent six months in advance anticipating a drastic drop in the BRL $. What do you guys think?Maybe do it 3 months in advance. Its suppose to go down even further. A few post back ForceSteeler post a link where they perdict the Real will be 6 to 1 in 2017.
Who is this guy Exec Talent? He keeps on Pming saying my post on this thread are useless. I had to put him on the "Ignore List". He needs a life.
FuckAfMedDig
08-30-15, 18:23
Maybe do it 3 months in advance. Its suppose to go down even further. A few post back ForceSteeler post a link where they perdict the Real will be 6 to 1 in 2017.It will drop. Its 40% less than what it was 2 years ago. Its going to drop after the Olympics again for sure-many gringos are jumping ship from Rio-I will wait till it all collapses and jump in!
ForceSteeler
09-01-15, 05:46
Who is this guy Exec Talent? He keeps on Pming saying my post on this thread are useless. I had to put him on the "Ignore List". He needs a life.Same here, he PM me the same shit, Some people take the Internet to seriously. But anyway back to the Brazil Real, Its $3.62 as of today, I really hope the feds raise the rates, It will be 4 to 1 by the time I land in Rio in December, And I will truly have a Merry Christmas!
Same here, he PM me the same shit, Some people take the Internet to seriously. But anyway back to the Brazil Real, Its $3.62 as of today, I really hope the feds raise the rates, It will be 4 to 1 by the time I land in Rio in December, And I will truly have a Merry Christmas!That guy needs help.
I'm 2 months away until my Brazil trip. Stopping in Sao Paulo then Rio. Decided to do Sao Paulo since the dollar is so strong.
I'm 2 months away until my Brazil trip. Stopping in Sao Paulo then Rio. Decided to do Sao Paulo since the dollar is so strong.One can save some money also with the hotel reservations. I made my reservations already two months ago, the price (BRL 1760) to be paid on arrival. Since then the price to be paid in Euros has gone down E 100. It's not that much, but I prefer it in my pocket than somebody else's. (After two hours in a clinica it will end up in the GDP's pocket).
With the present inflation rate they have to raise the hotel prices in Real at some point, if not done already.
One can save some money also with the hotel reservations. I made my reservations already two months ago, the price (BRL 1760) to be paid on arrival. Since then the price to be paid in Euros has gone down E 100. It's not that much, but I prefer it in my pocket than somebody else's. (After two hours in a clinica it will end up in the GDP's pocket).
With the present inflation rate they have to raise the hotel prices in Real at some point, if not done already.3. 73 to 1 now.
3. 73 to 1 now.3. 81 to 1.
3. 81 to 1.
You missed todays rate, USD1=R$3,8041.
You missed todays rate, USD1=R$3,8041.3. 86 to 1 now.
Tomorrow is the big fed meeting, If your planning on going to Brazil this year and next. Tomorrow is judgement day. If the Fed raise rates, the Real will be 4 to 1, Ii they do not raise rates look for the Brazil Real to hold a little strong until next year.Still going in the right direction, 3. 91 to the dollar now, lets hope it holds!
Exec Talent
09-18-15, 16:34
Still going in the right direction, 3. 91 to the dollar now, lets hope it holds!Hmmm. The Fed not raising the interest rate but leaving it at zero and the USD: BRL exchange rate still rises. Maybe there are some other factors involved. Like market manipulation. Or, could it be Satan?
ForceSteeler
09-18-15, 21:11
Still going in the right direction, 3. 91 to the dollar now, lets hope it holds!Yeah its at 3.93 right now. Almost 4 baby. I will be there in 2 months, I hope it reaches 4.20.
If the Fed raise rates, the Real will be 4 to 1, If they do not raise rates look for the Brazil Real to hold a little strong until next year.
Still going in the right direction, 3.91 to the dollar now, lets hope it holds!I wonder where it would be, IF the US Federal Reserve HAD raised rates. As it is, the Dollar is currently at 3.94 vs the Real, on xe.com. (I think it went as high as 3.96 today.) Next Federal Reserve meeting is on Oct 27-28. There is speculation they may raise rates then.
Right now she sits at 3,99 to 1.
Glory!
Right now she sits at 3,99 to 1.Glory!It's been fluctuating every day. The ATM's can't keep up. Today when it was at 3.98, the Citibank ATM in Copa was giving 3.90! It's usually off by 3 or 4 cents. Rat Bastards!!! :mad:
It's been fluctuating every day. The ATM's can't keep up. Today when it was at 3.98, the Citibank ATM in Copa was giving 3.90! It's usually off by 3 or 4 cents. Rat Bastards!!! :mad:It tried to slick me like that as well by being off by nearly 10 cents. I took my card and kept stepping. Then the next day I went when the rate was 3,87 and it gave me 3,83.
I remember hearing about the days of 3 when it was hovering in the low 2's and teetering as low as 1,97 but I could have never imagined it getting back to 3, let alone a few seconds away from kissing 4.
Exec Talent
09-22-15, 13:50
Lights were flashing, sirens wailing. The big day is here.
The Exchange rate hit and passed 4:1, currently at 4.025.
Right now she sits at 3,99 to 1.
Glory!Feeling good! 4. 03, soon girls will be asking to get paid in dollar $!
4. 13 to 1 now.Does anybody have a good place to buy reals in the USA, to stash for later.
Rate today is 4. 12.
Wells fargo is offering 3. 6 per dollar. I have friends and family in Brasil, maybe better to wire funds to them.
Basically is there any good way to buy reals from a USA supplier, without getting crushed on the rate?
Cheers.
Obrigado.
Does anybody have a good place to buy reals in the USA, to stash for
Rate today is 4. 12.
Wells fargo is offering 3. 6 per dollar. I have friends and family in Brasil, maybe better to wire funds to them.
Basically is there any good way to buy reals from a USA supplier, without getting crushed on the rate?
Cheers.
Obrigado.Just wait until you get to Brazil. Its forcast to hit 5 to 1 next year. And may ho higher.
Does anybody have a good place to buy reals in the USA, to stash for later.
Rate today is 4. 12.
Wells fargo is offering 3. 6 per dollar. I have friends and family in Brasil, maybe better to wire funds to them.
Basically is there any good way to buy reals from a USA supplier, without getting crushed on the rate?
Cheers.
Obrigado.Have you tried Citibank?
I looked at the exchange just now and it's at 4. 17 to 1 which is up by 30 centavos since I was there two weeks ago. It's going to be quite interesting to see how much it continues to climb and at what pace.
Exec Talent
09-24-15, 13:12
Just wait until you get to Brazil. Its forcast to hit 5 to 1 next year. And may ho higher.Maybe on my next trip, I should bring Euros to exchange. The current rate is 4.73 to 1.
What do you think? Seems like a good idea. The dollar exchange is only 4.19. Euros seem better, but I'll wait to hear from the experts.
Maybe on my next trip, I should bring Euros to exchange. The current rate is 4.73 to 1.
What do you think? Seems like a good idea. The dollar exchange is only 4.19. Euros seem better, but I'll wait to hear from the experts.4. 73 is more than 4. 19. Do it.
Exec Talent
09-24-15, 17:34
4. 73 is more than 4. 19. Do it.Thanks!
Now, should I exchange the dollars I have for Euros since Euros are better than dollars when exchanging for Reals (or is it Reales)?
Thanks!
Now, should I exchange the dollars I have for Euros since Euros are better than dollars when exchanging for Reals (or is it Reales)?Was 4. 20 this morning, now 3. 9447 on XE.
Did it peak, or just a bump in the road?
Cheers.
Exec Talent
09-25-15, 00:41
Was 4. 20 this morning, now 3. 9447 on XE.
Did it peak, or just a bump in the road?
Cheers.I obviously don't know much about the subject but seems to me I heard somewhere (probably from the experts here who can quote the daily exchange rate in the time it takes to click a mouse) that central banks often intervene in support of their currency. Seems to be a form of market manipulation, just the manipulator changed. Or, maybe the original market manipulator played along because he made money on the downside just like he did when he was driving the exchange rate up. But, again. What do I know?
Was 4. 20 this morning, now 3. 9447 on XE.
Did it peak, or just a bump in the road?
Cheers.According this article, the Real went down so fast due to speculation and psychological reasons. Now what is happening is to correct that situation. http://m.folha.uol.com.br/mercado/2015/09/1685736-alta-do-dolar-e-politica-nao-ha-nada-que-o-bc-possa-fazer-diz-especialista.shtml (good reading for anybody studying Portuguese).
Exec Talent
09-28-15, 21:14
The exchange rate is back up to about 4.10.
This time it is going to be a little harder for the Central Bank to magically draw it back down.
Most people on this forum think in terms of what a higher exchange rate means to them as tourists, but what does it mean for foreign companies doing business in Brazil. Let's say we have a product we export to Brazil which sold for $10 when the exchange rate was 2:1. That means it sold for 20 Reais. Now the exchange rate is 4:1. Can we raise the price to 40 Reais so we can make the same profit? Most likely not. However, some increase will be necessary which will impact demand. This lower demand combined with the exchange rate differential results in lower profits. What this means to your average Brazilian is that they will be paying higher prices for imported goods.
What about Brazilian exporters? Let's say they sold a product for 20 Reais when the exchange rate was 2:1 that means they would have gotten $10. Fortunately for them, most international trade is in dollar terms so when the exchange rate goes to 4:1, they get the same $10 which is now worth 40 Reais.
So there are many conflicting pressures on exchange rates as well as a lot of manipulation. But, one thing remains constant. There is no money to be made on foreign exchange without movement.
PatmarBeleza1
09-29-15, 02:39
A currency is a claim on a country's assets, all of them, stocks, bonds, roads, property. The real sliding indicates that all Brazilian assets -- including the asses of their GDPs -- are going down. Countries that have strong currencies do so because they have products that the rest of the world wants to buy. Selling sugar and soybeans is basically what Brazil had, and now with the slowing demand in China and other emerging markets, that game is over. Brazil is fucked. Not just for a few months, probably for decades. When Brazil had a chance to make significant changes due to having all the economics in their favor, Brazil did not do so.
So, my view is fuck them, literally, fuck them for less; trade the opportunity created by Brazil's own arrogant, selfish, lazy, and stupid mismanagement; including down to the level of the prives, termas, and freelancers. I'd like to feel sorry for these people, but, truly, they didn't do a thing when they had a chance.
As for all this manipulation from central banks, good luck. The American Federal Reserve can borrow all the money it wants because America has the strongest Navy, and thus the reserve currency. Brazil, on the other hand, can't even put a armed police officer in a subway station in Centro to stop a broad daylight shooting; Brazil has a carrier with refurbished A-4 skyhawks, the same plane that John McCain was shot down in Vietnam, like 4 decades ago; Brazil's only military exploit in the last century was to send an unequipped brigade of troops to Italy, after it was clear who was going to win the Second World War. Brazil's central bank has foreign currency reserves, so it won't blow up overnight, but it has no pricing power in the sovereign debt market. Brazil has a primary account deficit and will borrow money to meet its debt service obligations.
All of this is to say, it is a great time to be a monger in Brazil.
I obviously don't know much about the subject but seems to me I heard somewhere (probably from the experts here who can quote the daily exchange rate in the time it takes to click a mouse) that central banks often intervene in support of their currency. Seems to be a form of market manipulation, just the manipulator changed. Or, maybe the original market manipulator played along because he made money on the downside just like he did when he was driving the exchange rate up. But, again. What do I know?
As for all this manipulation from central banks, good luck. The American Federal Reserve can borrow all the money it wants because America has the strongest Navy, and thus the reserve currency. Brazil, on the other hand, can't even put a armed police officer in a subway station in Centro to stop a broad daylight shooting; Brazil has a carrier with refurbished A-4 skyhawks, the same plane that John McCain was shot down in Vietnam, like 4 decades ago; Brazil's only military exploit in the last century was to send an unequipped brigade of troops to Italy, after it was clear who was going to win the Second World War. Brazil's central bank has foreign currency reserves, so it won't blow up overnight, but it has no pricing power in the sovereign debt market. Brazil has a primary account deficit and will borrow money to meet its debt service obligations.I don't totally disagree with your, even if you may be simplifying things quite a lot. The "manipulation" as you call it, is what central banks do. That's their job. Many guys here have been waiting for FED to raise the interest rates, which would make dollar go up and making mongering cheaper. Central banks, including FED, raise interest rates, for example, to cool down overheated real estate market or lower them to attract investments etc. Central banks also print more money, like European Central Bank is doing right now, to make it more available for businesses to invest and at the same time it lowers Euro's value and helps the exports. ECB should have done it many years earlier like the Federal Reserve did. That's all "manipulation", like the Brazilian Central bank is doing right now. It is selling currencies and buying Reals to defend Real's value. If the Brazilian Real gets too weak, it may be too difficult for them to pay their debts, which probably are in dollars, with the weakened Reals.
There is no doubt that US can borrow all the money they want, because it is the biggest economy in the world, but it is also because they could pay all their loans at once (in theory, not in practice), if they wanted, by just printing more dollars. No other country has that privilege.
What comes to Brazil's overall economy, even if soy bean and sugar exports are important, the two most important export categories have taken serious hits from the outside. China will not buy as much Brazilian iron ore as before and oil prices have fallen even more than the Real. Of course there is the corruption everywhere and government's inability to make reforms, which together with weakened economy affects Brazil's future prospects.
ForceSteeler
10-03-15, 13:05
What comes to Brazil's overall economy, even if soy bean and sugar exports are important, the two most important export categories have taken serious hits from the outside. China will not buy as much Brazilian iron ore as before and oil prices have fallen even more than the Real. Of course there is the corruption everywhere and government's inability to make reforms, which together with weakened economy affects Brazil's future prospects.Brazil does not make anything to drive there economy. They depend Solely on Commodities which can only last for so long. You have to be more like the USA or Japan and make things that people want. The Brazilian Boom was fun while it lasted. Now I'm hearing there so many women on the street.
Brazil does not make anything to drive there economy. They depend Solely on Commodities which can only last for so long. You have to be more like the USA or Japan and make things that people want. The Brazilian Boom was fun while it lasted. Now I'm hearing there so many women on the street.You are right and one reason is their protectionism. You cannot compete in the international market, if you don't let your companies compete with imported products in the domestic market. Quality comes with competition.
In an interview with Folha de S. Paulo Standard & Poor says that Brazilian Central Bank should stop supporting the value of Real and let it hit 5 reals / USD. It says that supporting real is too expensive for Brazil and lower real would balance Brazilian economy.
S&P is also expecting FED to raise interest rates in December.
http://www1.folha.uol.com.br/mercado/2015/10/1694081-standard--poors-defende-que-bc-pare-de-atuar-e-deixe-dolar-ir-a-r-5.shtml
ForceSteeler
10-16-15, 17:14
In an interview with Folha de S. Paulo Standard & Poor says that Brazilian Central Bank should stop supporting the value of Real and let it hit 5 reals / USD. It says that supporting real is too expensive for Brazil and lower real would balance Brazilian economy.
S&P is also expecting FED to raise interest rates in December.
http://www1.folha.uol.com.br/mercado/2015/10/1694081-standard--poors-defende-que-bc-pare-de-atuar-e-deixe-dolar-ir-a-r-5.shtmlThe Real will crash hard after the Olympics 2016. Goldman Sachs predicts the Brazil Real will hit a target of 6 to 1 by Next Year. It will take decades before Brazil can recover, As Brazil Does not produce anything, There Backbone is Commodities, like oil and steel selling it to China. China is in a Huge SlowDown and with the US deal with the Iranians when Iran Oil hits the market look for oil to be even lower.
I think the Real being cheap will help tourism a lot. A country like Brazil needs to invest in Tourism and the whole Visa Restrictions Process. With the USA and Europe hurts it a lot.
The Real will crash hard after the Olympics 2016. Goldman Sachs predicts the Brazil Real will hit a target of 6 to 1 by Next Year.Maybe not. Economist are saying US has 15% chance of going into a recession in the next 12 months, its highest level since October 2013.
http://www.bloomberg.com/news/articles/2015-10-09/a-u-s-recession-just-got-a-little-more-likely
ForceSteeler
10-21-15, 21:21
Maybe not. Economist are saying US has 15% chance of going into a recession in the next 12 months, its highest level since October 2013.
http://www.bloomberg.com/news/articles/2015-10-09/a-u-s-recession-just-got-a-little-more-likelyYes, but if the US Economy Slows down, that will make the Brazil Real Crash even harder. As Oil, Steel, etc. Demand will weaken, etc. Remember Brazil is a Commodity Based Economy, They do not create anything, There money comes from raw materials, There hurting right now due to a slow down in China, China is not buying up Raw Materials like Oil, and if the US economy weakens that means commodities like Oil Prices will fall even harder. Every investor is hoping Finance Minister Joaquin Levy can balance the budget and Brazil does have a stockpile of US Dollars, but there in massive debt and it will take decades before Brazil can see growth again because they have to stop relying on commodities and start actually producing and making stuff that people will buy like USA, Japan and China.
FuckAfMedDig
10-22-15, 08:59
Yes, but if the US Economy Slows down, that will make the Brazil Real Crash even harder. As Oil, Steel, etc. Demand will weaken, etc. Remember Brazil is a Commodity Based Economy, They do not create anything, There money comes from raw materials, There hurting right now due to a slow down in China, China is not buying up Raw Materials like Oil, and if the US economy weakens that means commodities like Oil Prices will fall even harder. Every investor is hoping Finance Minister Joaquin Levy can balance the budget and Brazil does have a stockpile of US Dollars, but there in massive debt and it will take decades before Brazil can see growth again because they have to stop relying on commodities and start actually producing and making stuff that people will buy like USA, Japan and China.It will crash harder. Brazil and Rousseff as usual are overly concerned with self-image and not reality-and of course fleecing the country.
Brazil is facing a junk bond credit rating imminently and I for one will be buying a place there soon-even the rental market is dropping in Rio and many are looking to move out-so I'm moving in! LOL.
Vagabundo1
10-28-15, 13:27
Well, it's a pretty normal week (had a pernoite last night, 500 for a mulatta who showed late and didn't rate the full 700 she asked); had an afternoon 3 hour anal / oral intensive session with a prive girl over at the apartment, which is looking like a bomb hit a condom factory. So, I thought I'd write about the positives of Brazil, as the negatives have been well detailed.
1. The sex is better.
2. The food is better (writing this from a deli with an excellent breakfast with french toast, fried eggs, lots of fresh bread, capucinno, all the rest).
3. The music is better.
4. People are happier (if ignorant, uneducated).
5. The people are more fit, less fat.
6. The people are more honest, moral, religious. This is true with the lower classes more so, as they are more religious, less educated. I've seen poor people on the train (supervia) give back 25 centavos to someone who dropped change.
Which all culminates in, what is the real purpose of a swimming pool?
Swimming of course, is not the answer.
The real purpose is to keep water on your skin between rounds of sun tanning on lawn furniture. So, you "swim" for 2 minutes, take a shower for 2 minutes, and sit in the sun for 15 minutes until dry, and then repeat. You can do this 4 times or 8 times while talking with your friends by the pool.
A person from another country which is more ambitious might be forgiven for thinking that a swimming pool is for exercise.
ForceSteeler
10-29-15, 02:01
Well, it's a pretty normal week (had a pernoite last night, 500 for a mulatta who showed late and didn't rate the full 700 she asked); had an afternoon 3 hour anal / oral intensive session with a prive girl over at the apartment, which is looking like a bomb hit a condom factory. So, I thought I'd write about the positives of Brazil, as the negatives have been well detailed.
1. The sex is better.
2. The food is better (writing this from a deli with an excellent breakfast with french toast, fried eggs, lots of fresh bread, capucinno, all the rest).
3. The music is better.
4. People are happier (if ignorant, uneducated).
5. The people are more fit, less fat.
6. The people are more honest, moral, religious. This is true with the lower classes more so, as they are more religious, less educated. I've seen poor people on the train (supervia) give back 25 centavos to someone who dropped change.
Which all culminates in, what is the real purpose of a swimming pool?
Swimming of course, is not the answer.
The real purpose is to keep water on your skin between rounds of sun tanning on lawn furniture. So, you "swim" for 2 minutes, take a shower for 2 minutes, and sit in the sun for 15 minutes until dry, and then repeat. You can do this 4 times or 8 times while talking with your friends by the pool.
A person from another country which is more ambitious might be forgiven for thinking that a swimming pool is for exercise.Hey buddy your post belongs in the general rio reports, This is currency talk? Whats does your post have to do with currency?
SunkistDay
10-29-15, 17:11
Well, it's a pretty normal week (had a pernoite last night, 500 for a mulatta who showed late and didn't rate the full 700 she asked); had an afternoon 3 hour anal / oral intensive session with a prive girl over at the apartment, which is looking like a bomb hit a condom factory. So, I thought I'd write about the positives of Brazil, as the negatives have been well detailed.
1. The sex is better.
2. The food is better (writing this from a deli with an excellent breakfast with french toast, fried eggs, lots of fresh bread, capucinno, all the rest).
3. The music is better.
4. People are happier (if ignorant, uneducated).
5. The people are more fit, less fat.
6. The people are more honest, moral, religious. This is true with the lower classes more so, as they are more religious, less educated. I've seen poor people on the train (supervia) give back 25 centavos to someone who dropped change.
Which all culminates in, what is the real purpose of a swimming pool?
Swimming of course, is not the answer.
The real purpose is to keep water on your skin between rounds of sun tanning on lawn furniture. So, you "swim" for 2 minutes, take a shower for 2 minutes, and sit in the sun for 15 minutes until dry, and then repeat. You can do this 4 times or 8 times while talking with your friends by the pool.
A person from another country which is more ambitious might be forgiven for thinking that a swimming pool is for exercise.LMAO. Who cares where it's posted.
LMAO. Who cares where it's posted. Maybe you should move the post to the Chisinau, Moldova section. After all, who cares where it is posted? If someone RTFF, and they were looking for the type of information you posted, it is doubtful they would look in the currency section.
Vagabundo1
10-30-15, 01:10
You need to come to rio and get laid.
Hey buddy your post belongs in the general rio reports, This is currency talk? Whats does your post have to do with currency?
Max withdrawal per transaction?
Any particular bank or banks?
I"ll be in Copa.
Thanks in advance.
GreengoGreengo,
I answer you here in the proper thread. The other thread "Anyone know about a 300. Reais a day limit at ATM's in Brazil for foreigners?" is a thread that got created by mistake by Trippleecks (got created instead of a post in another thread).
Max withdrawals/day:
Banco do Brasil: R$1000 (during some time in March BB changed the limit to R$800). Not all ATM works with foreign cards, they must have a special adhesive saying VISA...
Banco Bradesco: R$800
HSBC: R$1000
Citybank: Multiple withdrawals (at least three) R$1000
Note 1: The max withdrawals depends on your bank/card (and maybe nationality).
Note 2: If the bank has lots of ATMs, line up to choose one that says "Saques". If it only says "Depósitos" you won't be able to withdraw any money.
Note 3: At late hours the withdrawal limits can be lowered.
Note 4: I've noted that many gringos line up in the "Prioridade/Preferenciais" cue. They doesn't seem to understand (even though all the locals are staring at them angrily) that they are standing in a cue reserved for elderly people. Preferenciais usually includes elderly, handicapped and pregnants. In some occasions (e.g buses) Preferenciais also includes obese people (which btw would include many of the US tourists :)).
Exec Talent
10-31-15, 17:08
If you travel extensively world-wide, including Brazil, one of the best bank accounts to have is HSBC Premier.
https://www.us.hsbc.com/1/2/home/premier
Open a new account, meet certain conditions, and receive $750.
Debit card has no fees and limit is 500 USD per day.
There are a lot of benefits, including the ability to open a local Brazilian account and obtain Brazilian credit cards (with airline miles).
With the right connections you also can do this with Citibank.
Many times prices, like airfares, are lower in Reais than they are in dollars and often the fares can be paid over time interest free.
Exec Talent
11-25-15, 20:45
Currency and stock market watchers:
http://www.cnbc.com/2015/11/25/
André Esteves is not Bill Gates rich, but he still is in the top 1000.
Senator Delcidio do Amaral is a leader in the Worker's Party; same party as Lula and Dilma.
Imagine the impact on the markets if the CEO of JP Morgan and a Senate leader were arrested on the same day.
Currency and stock market watchers:
http://www.cnbc.com/2015/11/25/
Andr Esteves is not Bill Gates rich, but he still is in the top 1000. Senator Delcidio do Amaral is a leader in the Worker's Party; same party as Lula and Dilma.
Imagine the impact on the markets if the CEO of JP Morgan and a Senate leader were arrested on the same day.You cutoff the link ET. Here's the correct link http://www.cnbc.com/2015/11/25/reuters-america-btg-scrambles-to-contain-esteves-arrest-fallout.html.
Jimmy Boy 99
11-26-15, 03:19
Max withdrawals/day:
Banco do Brasil: R$1000 (during some time in March BB changed the limit to R$800). Not all ATM works with foreign cards, they must have a special adhesive saying VISA...
Banco Bradesco: R$800
HSBC: R$1000
Citybank: Multiple withdrawals (at least three) R$1000.Banco Santander is 1500 per withdrawal. I don't know what the daily limit is as I never withdrew more than that on any one day.
Hey guys,
I have a couple projects winding down in Rio de Janiero. Bank of Brazil is a process to wire transfer to the US. Anybody that needs Reales coming from Bank of Brazil (certified funds), and will deposit in the US in amounts of 40k Real or more let me know please. I am willing to pay 5% more than the exchange rate. Thanks.
Viper10.
I arrived yesterday and checked out several casas de cambio today. PM Turismo, Casa Behar, Viajes Norte, BlameitonRio, Berthas, Habitalar, 4 cantos and just for fun I also asked two casas de cambio in Rio Sul.
The worst rate for selling my euros I got in Rio Sul. They offered 3,90. The girl told me happily that they always pay the worst rate. Some small casas de cambio offered 4,10. BlameitonRio-Bobby offered 4,15.
The market opened at 11 AM and the euro went down a bit. Berthas offered 4,20 (speak with the fat boss). However the best rate I received at (just as last year) Viajes Norte on Rua Xavier da Silveira. They offered 4,25.
When negotiating a good exchange rate it helps if you speak good Portuguese, stays calm, speaks with the boss (usually the fattest guy around) and if you'll exchange a large amount. Every centavo makes a big difference for large amounts.
When I discretely was confirming my stacks of R$50-bills a young and extremely good-looking girl came in to change some dollar-bills. Very amusing to watch how she smiled and flirted when she noticed the money. I filled my money belt and quickly went back home to my safe haven in the favela.
Exec Talent
12-17-15, 05:48
When negotiating a good exchange rate it helps if you speak good Portuguese, stays calm, speaks with the boss (usually the fattest guy around) and if you'll exchange a large amount. Every centavo makes a big difference for large amounts.When exchanging money, I have noticed a lot of gringos speaking loudly so I assume that must be just as effective as speaking Portuguese.
Exec Talent
12-31-15, 15:38
Hope all you big currency traders made tons of money on the wild and frequent fluctuations in the USD: BRL exchange rate this month.
To a tumultuous and profitable New Year.
Jimmy Boy 99
01-08-16, 23:23
For those who don't have a debit card that rebates ATM fees, you might want to use Bradesco as it doesn't charge any fees. I thought they might make it up in the exchange rate, but it was the same rate as charged by Santander, which charges a 12 Real ATM fee. The only negative is that Bradesco only gives out 800 Real at a time while Santander gives out a maximum of 1500 Real at a time, so you will have to do it more often if use use Bradesco.
Member #4405
01-10-16, 12:42
Is it interesting to change Yen for Reais in the casa de cambio? They only accept notes or they also accept coins?
When I was in Brazil, I withdrew money from banco bradesco, I did not pay any fee and the currency rates were very interesting.
ForceSteeler
01-11-16, 22:38
Hope all you big currency traders made tons of money on the wild and frequent fluctuations in the USD: BRL exchange rate this month.
To a tumultuous and profitable New Year.Looks like the Brazil Real Pass the 4 mark and is doing Consolidating. Should be 5 to 1 or even 6 to 1 by the end of the year.
Max withdrawals/day:
Banco do Brasil: R$1000 (during some time in March BB changed the limit to R$800). Not all ATM works with foreign cards, they must have a special adhesive saying VISA...
Banco Bradesco: R$800
HSBC: R$1000
Citybank: Multiple withdrawals (at least three) R$1000
Some changes:
Banco do Brasil: R$500 (this is the daytime-limit). One withdrawal/day.
Banco Bradesco: R$800. Several withdrawals/day.
HSBC: R$1000. One withdrawal/day.
Citybank: R$1000. Several withdrawals/day.
These are the withdrawal limits in Fortaleza. I don't know if Rio has different limits. Really weird that Banco do Brasil lowered their limits from R$1000 to R$800 and now to R$500.
Any updates from the field on the current exchange rate on the ground in Rio? The strength of the dollar has officially dropped below 1 for 4 reals damn it! Is it still pretty easy to get 4 to 1 on the local market though given the weak Brazilian economy, or what's the current situation?
Any updates from the field on the current exchange rate on the ground in Rio? The strength of the dollar has officially dropped below 1 for 4 reals damn it! Is it still pretty easy to get 4 to 1 on the local market though given the weak Brazilian economy, or what's the current situation?PMturismo's site gives a good idea about the current street rate. Today the USD was 3,75/3,92.
http://www.pmturismo.com.br
Our currency experts have vanished. USD/BRL 3,582. It hasn't been so low since August.
http://economia.ig.com.br/2016-03-18/dolar-atinge-valor-mais-baixo-dos-ultimos-sete-meses.html
Just did some checking online and found several cambios in town offering a solid 3. 6 reals to 1 dollar exchange rate. That's twice what it was the last time I was in Rio! I'll take that (although 4 to 1 would be even better).
Just did some checking online and found several cambios in town offering a solid 3. 6 reals to 1 dollar exchange rate. That's twice what it was the last time I was in Rio! I'll take that (although 4 to 1 would be even better).
Then you can make a fortune. Today they are selling USD for 3,58. Buy a large amount and sell them for 3,6.
You get a good idea of the cambio if you look at Pmturismo's site (they are located on Av Rio Branco):
http://www.pmturismo.com.br/site_novo/
Today they pay 3,42 for USD. Add 5 more centavos and you have a good idea of what you can get paid if you negotiate well at others Casas de Cambios. 3,6 today is impossible.
I saw it at 3.59 on Monday, now it's 3.39 on Wednesday. I hope this is temporary!
I saw it at 3.59 on Monday, now it's 3.39 on Wednesday. I hope this is temporary!Congress approved the appointment of a new head of the central bank. He intends to be less interventionist with respect to currency valuation, and will instead focus on inflation as his key performance indicator. Markets seem to be taking the appointment quite well.
That congress approved the appointment also sends a signal the interim government of Temer may actually be able to get legislation passed; this is no small feat given that 29 different parties are represented in Congress.
I suspect that at some point between September and February the BRL is going to get crushed as one of the 3 government controlled banks will require a bailout, sending foreign investors unwinding Brazilian positions again.
The dollar was fetching 3. 50 R.
This place gives good rates, and has little secure rooms, where you have privacy to count your money in peace. I have always gotten a better rate in this place as compared to any other place in Zona Sul. However, I suggest you take your ass straight to the Metro or a taxi back to your place once you have exchanged your cash. This only applies if it is a significant amount.
I learned about this location a couple of years ago, thanks to SPERTO.
The dollar was fetching 3. 50 R.
This place gives good rates, and has little secure rooms, where you have privacy to count your money in peace. I have always gotten a better rate in this place as compared to any other place in Zona Sul. However, I suggest you take your ass straight to the Metro or a taxi back to your place once you have exchanged your cash. This only applies if it is a significant amount.
I learned about this location a couple of years ago, thanks to SPERTO.
I'm happy you got a good rate. Casa Behar gives good rates, but IMO not the best rate.
Casa Behar (Av Rio Branco): Good rate. Avoid the old greedy woman, the old guy gives better rates.
PM Turismo (Av Rio Branco): Good rate. Often slightly better than Casa Behar.
On Rua Xavier da Silveira there are three Casas de Cambio. Bobbys Blameitonrio gives bad rates. Berthas gives better rates than Bobby (speak with the fat boss). The best rate I usually gets at Viajes Norte. Negotiate and they'll give you about 5 centavos better rate than their best paying competitor.
If you have very large amounts of cash your best rate will be with a doleiro, if you manage to find one that is reliable.
I'm happy you got a good rate. Casa Behar gives good rates, but IMO not the best rate.
Casa Behar (Av Rio Branco): Good rate. Avoid the old greedy woman, the old guy gives better rates.
PM Turismo (Av Rio Branco): Good rate. Often slightly better than Casa Behar.
On Rua Xavier da Silveira there are three Casas de Cambio. Bobbys Blameitonrio gives bad rates. Berthas gives better rates than Bobby (speak with the fat boss). The best rate I usually gets at Viajes Norte. Negotiate and they'll give you about 5 centavos better rate than their best paying competitor.
If you have very large amounts of cash your best rate will be with a doleiro, if you manage to find one that is reliable.Yes Sir! I dealt with the fat lady last year. This time around, I dealt with the old man. I negotiated 3 cents more.
The best rate I usually gets at Viajes Norte. Negotiate and they'll give you about 5 centavos better rate than their best paying competitor.I've also received the best rates from Viajes Norte. Does anybody have any experience with either Plus Cambio or Confidence Cambio at the Praia Shopping Mall?
This is nothing but a bunch of "irrational exuberance" over the real. The Brazilian government isn't going to deliver on jack!
http://blogs.wsj.com/moneybeat/2016/06/30/what-currency-to-buy-after-brexit-try-the-brazilian-real/
The Real is almost reaching 3.20. The best valuation in a good while. Let's where it goes.
ForceSteeler
07-07-16, 01:49
Congress approved the appointment of a new head of the central bank. He intends to be less interventionist with respect to currency valuation, and will instead focus on inflation as his key performance indicator. Markets seem to be taking the appointment quite well.
That congress approved the appointment also sends a signal the interim government of Temer may actually be able to get legislation passed; this is no small feat given that 29 different parties are represented in Congress.
I suspect that at some point between September and February the BRL is going to get crushed as one of the 3 government controlled banks will require a bailout, sending foreign investors unwinding Brazilian positions again.They are just propping up the Brazil real for the Olympics so they can cash out. Once the Olympics is over and the government realize its a bust and the bills are start coming in. By September look for the real to be 5 to 1 and by Next March 6 to 1.
They are just propping up the Brazil real for the Olympics so they can cash out. Once the Olympics is over and the government realize its a bust and the bills are start coming in. By September look for the real to be 5 to 1 and by Next March 6 to 1.I agree with you. I also heard others mention this. There is strong manipulation of the currency right now. I'm sure the tide will reverse after the Olympics. The underlying reason for the currency crash is still there and the US has recent reasons for a stronger dollar. Today the US Dollar went up against most currencies that matter, but strongly sank against the Real. That is some corrupt BS. I'm only interested because I will be going to Brazil for my first time tomorrow.
The Olympics are over. Dilma's impeachment is proceeding. The guy who replaced her is as crooked as they come. The previous President is indicted. Inflation is rampant and Brazil is in a recession. The Dollar is holding its own against the Euro and the Pound. But the Dollar is weak against the Real. At the beginning of the year, the Dollar was close to 4 to 1 exchange rate. Currently it's at $R3.23. I don't get it.
The Olympics are over. Dilma's impeachment is proceeding. The guy who replaced her is as crooked as they come. The previous President is indicted. Inflation is rampant and Brazil is in a recession. The Dollar is holding its own against the Euro and the Pound. But the Dollar is weak against the Real. At the beginning of the year, the Dollar was close to 4 to 1 exchange rate. Currently it's at $R3.23. I don't get it.I have some experience with Forex. Mostly very bad experiences with Forex. I won't trade Forex again.
Anyways, look at the one month chart. There was a dip, and a recovery of the USD, and it seems like it the USD will climb up on the BRL. The USA is expected to raise interest rates one more time this year. When they actually say they will raise interest rates, the dollar will make a good move against other countries. I haven't researched the BRL, but from what I understand is their banks have a very high interest rate. That means if you put BRL in a Brazilian bank, they will pay you a lot of interest. So, you have something going on called a carry trade. Google "carry trade". Big banks and investors are doing the carry trade, which is helping the BRL stay afloat.
ForceSteeler
08-31-16, 13:21
I have some experience with Forex. Mostly very bad experiences with Forex. I won't trade Forex again.
Anyways, look at the one month chart. There was a dip, and a recovery of the USD, and it seems like it the USD will climb up on the BRL. The USA is expected to raise interest rates one more time this year. When they actually say they will raise interest rates, the dollar will make a good move against other countries. I haven't researched the BRL, but from what I understand is their banks have a very high interest rate. That means if you put BRL in a Brazilian bank, they will pay you a lot of interest. So, you have something going on called a carry trade. Google "carry trade". Big banks and investors are doing the carry trade, which is helping the BRL stay afloat.Yes the reason why the Brazilian Real is holding up against the dollar is because the current president is a Hardline Right Winger. A lot of investors are hoping the current government will cut a lot of spending and social programs in order to balance the budget. I don't know if that will go through they will be a lot of social unrest and a backlash.
Not to sound like a Conspiracy Theorist or anything but to me Brazil problems all started in 2013. When they wanted to start there own world bank called BRICS it included Russia, China and there goal was too move off the US dollar reserve currency. Fast forward to 2016 and Brazil, China, and Russia economy's are all terrible now.
The current president was a former CIA asset. Washington has full control of the Brazilian government and I Guess he will be taking orders from the USA from now on.
http://sputniknews.com/latam/20160513/1039580481/wikileaks-temer-us-intelligence.html
They are just propping up the Brazil real for the Olympics so they can cash out. Once the Olympics is over and the government realize its a bust and the bills are start coming in. By September look for the real to be 5 to 1 and by Next March 6 to 1.
Now it's September and I'm looking for the predicted 1:5. When you made your prediction it was USD:BRL 1:3,37. Today it's USD:BRL 1:3,22. So much for the forum's currency experts. :)
ForceSteeler
09-01-16, 10:51
Now it's September and I'm looking for the predicted 1:5. When you made your prediction it was USD:BRL 1:3,37. Today it's USD:BRL 1:3,22. So much for the forum's currency experts. :)If you read my earlier post. The Brazil Real should be 5 to 1 or even 6 to 1 by now. The Only Reason The Real has not crash is because investors are pouring in money because President Dilma Rousseff is out of office. A lot of Investors are hoping the new government due deep cut a lot of programs to balance the budget.
Trust me I don't expect the new Brazil government to get serious and balance the budget. When investors realize the new government is a stalemate. Expect the Real to Crash Hard, because I don't see how Brazil economy is going to pick up.
Exec Talent
09-01-16, 23:47
If you read my earlier post. The Brazil Real should be 5 to 1 or even 6 to 1 by now. The Only Reason The Real has not crash is because investors are pouring in money because President Dilma Rousseff is out of office. A lot of Investors are hoping the new government due deep cut a lot of programs to balance the budget.
Trust me I don't expect the new Brazil government to get serious and balance the budget. When investors realize the new government is a stalemate. Expect the Real to Crash Hard, because I don't see how Brazil economy is going to pick up.Wonder if that bear ever did catch the rabbit or is he still taking a big old smelly shit.
In this article from Bloomberg http://www.bloomberg.com/news/articles/2016-07-11/brazil-analysts-forecast-stronger-real-for-second-straight-week which is two months old, 100 economists forecast 3,40 BRL / USD at the end of the year and 3,55 at the end of the 2017. The article is a bit old, but the situation hasn't changed so dramatically since then, even with the foreseeable substitution of Dilma. I would rather put my money on this bet than any other, if I had any.
P.s. The economists are much better explaining the past than predicting the future, so who knows.
Soldierb11
09-02-16, 15:53
Now it's September and I'm looking for the predicted 1:5. When you made your prediction it was USD:BRL 1:3,37. Today it's USD:BRL 1:3,22. So much for the forum's currency experts. :)Exactly. Olympics are over, where's the crash? There won't be one. Sure the real might go down and my guess is it will drift more down than up but no one knows for sure. Forcesteeler, really man I increase my offer to you to not only buy you a beer but buy everything you can drink in one night if the real / dollar ever hits 5/1. Believe me I will be happier than you since I am down here more than you but I just don't ever see 5/1 and for fucks sake 6/1?
Today there are just as many traders betting the real will go up as much as it will go down.
Yes their economy has so many problems but it is very dependent on commodity prices especially oil that was around $46 today for Brent crude. Something happens in the world and crude goes to $60 (not saying 80,100 or other wild numbers just $60 per barrel) then Brasil's problems become more manageable (notice when I say, "more manageable" not manageable) Crude hits $60 and real is now 2. 5/1 dollar.
Quick headlines from an oil site today.
-OPEC pumps record crude in August.
-Oil price inevitable as new discoveries hit 70 year low.
Same website and those two articles give exact opposite predictions of where oil is going. No one knows for certain. Just like no one knows for certain where the real is heading, or pork bellies or any other commodity.
Again, 5/1 is a dream, just like Help re-opening.
ForceSteeler
09-06-16, 20:36
Exactly. Olympics are over, where's the crash? There won't be one. Sure the real might go down and my guess is it will drift more down than up but no one knows for sure. Forcesteeler, really man I increase my offer to you to not only buy you a beer but buy everything you can drink in one night if the real / dollar ever hits 5/1. Believe me I will be happier than you since I am down here more than you but I just don't ever see 5/1 and for fucks sake 6/1?
Today there are just as many traders betting the real will go up as much as it will go down.
Yes their economy has so many problems but it is very dependent on commodity prices especially oil that was around $46 today for Brent crude. Something happens in the world and crude goes to $60 (not saying 80,100 or other wild numbers just $60 per barrel) then Brasil's problems become more manageable (notice when I say, "more manageable" not manageable) Crude hits $60 and real is now 2.5/1 dollar..Again I stick to the fundamentals. Again all Brazil has is commodity's which was tied into the China's Booming Economy. China is a huge bust, They have hundreds of malls and thousands of office buildings, condos, that are completely empty. So there is not going to be a huge commodity surge like it was back before 2013.
Right Now its a honeymoon right now, Investors are looking to cash in hoping the new Brazilian government will cut a lot of social programs, and even push the retirement age to 75. But I don't see that happening. Too much backlash and the new Brazil elections are coming up in 2018.
I have no faith in a 3rd World Country like Brazil. If this was the United States or Japan which actually makes and produce stuff like Technology which is "Highly Profitable" then I can see a future. The only think Brazil has is Oil That is not enough to cut it in the 21st century.
We have all been only talking about Brazil. When the FED raises the US Interest rates, the US dollar will go up against all others. Prices of commodities fall, and other currency fall. The US is expected to raise rates soon, and it is making the markets anxious.
ForceSteeler
09-12-16, 14:26
We have all been only talking about Brazil. When the FED raises the US Interest rates, the US dollar will go up against all others. Prices of commodities fall, and other currency fall. The US is expected to raise rates soon, and it is making the markets anxious.Yes the Brazil Real will fall because borrowing money will become more expensive. What alot of investors do is when rates are low they borrow cheap money and put it into Investments like the "Brazil Real" which offer nice return rates. When you raise the intrest rates it cuts there profits down.
Exactly. Olympics are over, where's the crash? There won't be one. Sure the real might go down and my guess is it will drift more down than up but no one knows for sure. Forcesteeler, really man I increase my offer to you to not only buy you a beer but buy everything you can drink in one night if the real / dollar ever hits 5/1. Believe me I will be happier than you since I am down here more than you but I just don't ever see 5/1 and for fucks sake 6/1?
Today there are just as many traders betting the real will go up as much as it will go down.
Yes their economy has so many problems but it is very dependent on commodity prices especially oil that was around $46 today for Brent crude. Something happens in the world and crude goes to $60 (not saying 80,100 or other wild numbers just $60 per barrel) then Brasil's problems become more manageable (notice when I say, "more manageable" not manageable) Crude hits $60 and real is now 2. 5/1 dollar.
Quick headlines from an oil site today.
-OPEC pumps record crude in August.
-Oil price inevitable as new discoveries hit 70 year low.
Same website and those two articles give exact opposite predictions of where oil is going. No one knows for certain. Just like no one knows for certain where the real is heading, or pork bellies or any other commodity.
Again, 5/1 is a dream, just like Help re-opening.It is going to be 5 reais for 1 dollar but it is not for now, it is just a matter of time, now 1 dollar is 3 reais 32, it is going to keep going up, in the past 1 euro was 1 dollar 50 now 1 euro is 1 dollar 12 things don't change in one day we all know help will never open because of the museum that is not finished yet. Many years of construction and the museum is not open yet, but we are sure they will open another place like help with another name and in another place.
I feel sorry for those who waits for USD:BRL to become 1:5 and a new Help to open. Help closed 6 years and 8 months ago. Stop dreaming, get over it and accept that the monger scene in Rio is different now.
https://www.youtube.com/watch?v=n1VBlaromJY
ForceSteeler
09-14-16, 14:08
I feel sorry for those who waits for USD:BRL to become 1:5 and a new Help to open. Help closed 6 years and 8 months ago. Stop dreaming, get over it and accept that the monger scene in Rio is different now.
https://www.youtube.com/watch?v=n1VBlaromJYAs the economy heads on a downturn, They will eventually have another spot like Help. Also right now there is not a huge mongering scene in Brazil, Since help closed a lot of mongers never returned to Brazil. If you go to Mabs, there are few mongers, Its nothing like in 2000-2006. So there are going to have very few females as the clients are too few far in-between.
I feel sorry for those who waits for USD:BRL to become 1:5 and a new Help to open. Help closed 6 years and 8 months ago. Stop dreaming, get over it and accept that the monger scene in Rio is different now.
https://www.youtube.com/watch?v=n1VBlaromJYThis video is so spot on, whoever did the sub titles has a good knowledge of the scene. I must admit I share Adolph's sentiment!
Rio won't get back to the real glory days until the USD: BRL becomes 1:8 and then every woman in Brazil will be selling bucetta and Mongers will come from all over the world to buy it and then there will be so many girls in Copa they will take over some club like Mariuzini's or some place like that. Yes that is my dream don't burst it and I hope to still be living when and if it happens. Also in the meantime I still will make my annual trips and enjoy the way things are now.
Rio won't get back to the real glory days until the USD: BRL becomes 1:8 and then every woman in Brazil will be selling bucetta and Mongers will come from all over the world to buy it and then there will be so many girls in Copa they will take over some club like Mariuzini's or some place like that. Yes that is my dream don't burst it and I hope to still be living when and if it happens. Also in the meantime I still will make my annual trips and enjoy the way things are now.
It's good to have dreams and it's even better when you can fulfill your dreams.
The difference between you and the other Help dreamers (who longs for the Good Ol' Days), is that you don't sit back home in your sofa scratching your balls and only visit Brazil in your fantasy. You hope for a new Help-era but accept the situation of today and continues to go back to Brazil.
It's good to have dreams and it's even better when you can fulfill your dreams.
The difference between you and the other Help dreamers (who longs for the Good Ol' Days), is that you don't sit back home in your sofa scratching your balls and only visit Brazil in your fantasy. You hope for a new Help-era but accept the situation of today and continues to go back to Brazil.I am not dreamer, I don't hope for help, I never knew help I accept the situation now there are many options even without help.
Larry David
09-16-16, 06:03
Looks like Q4 the real will soften. Difference between 1-3. 3 and 1-3.7 is two more prive visits per usd $1000.
BRAZIL Brazil initiates a new political chapter with positive implications for the business environment. In a two-vote session, the 81-member Senate confirmed the impeachment of Dilma Rousseff (75% in favour) while allowing her to seek a new post in public service (the request to ban her from becoming a public servant did not receive the two thirds required). Michel Temer was officially assumed as the President of Brazil until the end of 2018. The political context will be shaped by a reform plan to be unveiled by the Temer administration (pension reform, labour market reform, and fiscal adjustment are amongst the key areas subject to deep structural change), municipal elections scheduled for October (which will serve as a gauge of popular support to the ousted PT (labour) party, and potential trials against selected lawmakers on corruption allegations. On the macroeconomic front, official data indicated that real GDP contracted by 3.8% y/y and by 0.6% (q/q) in the second quarter of the year. The latest consensus survey conducted by the central bank points to a 2016 GDP decline of 3.2% before a modest growth of 1.2% for 2017.
A key market- sensitive issue will be the beginning of the monetary normalization phase (monetary easing in the works) with a likely first cut in the policy-setting SELIC rate in the fourth quarter of the year. The Brazilian real (BRL) may be subject to profit-taking forces in the near term.
Now it's September and I'm looking for the predicted 1:5. When you made your prediction it was USD:BRL 1:3,37. Today it's USD:BRL 1:3,22. So much for the forum's currency experts. :)
USD:BRL 1:3,20. Going down. The predicted 1:5 seems light years away. :)
Exec Talent
10-11-16, 17:22
USD:BRL 1:3,20. Going down. The predicted 1:5 seems light years away. :)Even the Internet Village has one.
Quick to comment on the Brazilian economy and speculate on currency exchanges but after asking for a lot of information and claiming to have visited Rio, provided nothing in return.
The best way to handle the Village is to place him on ignore which is what I did long ago. Unfortunately, some of you (not Sperto) insist on engaging the fool and giving credence to his inane comments.
Even the Internet Village has one.
Quick to comment on the Brazilian economy and speculate on currency exchanges but after asking for a lot of information and claiming to have visited Rio, provided nothing in return.
The best way to handle the Village is to place him on ignore which is what I did long ago. Unfortunately, some of you (not Sperto) insist on engaging the fool and giving credence to his inane comments.http://g1.globo.com/economia/noticia/2016/10/caixa-admite-que-precisara-vender-ativos-para-evitar-socorro-do-governo.html
If Caixa Federal requires a bailout, which is looking increasingly likely, you can bet investors will freak out about the possibility of a banking crisis in Brazil. The BNDES is totally fucked (it's been ordered to repay BRL 100 b to the treasury before the end of the year while 70% of its portfolio is stressed), and Banco do Brasil doesn't look great either as its balance sheet is carrying a lot of non performing debt.
On the whole, there is just too much debt in Brazil, and the global economy doesn't look like it's going to grow much in the near term. As result, commodity demand isn't likely to do very much. This won't help Brazil commodity backed economy.
If you look at the influx of investment into Brazil since the BRL went to 4 early in the year very little has actually been invested in going concerns; the majority has simply gone into buying Brazilian government bonds at 14.5%, which even after inflation are the highest yielding bonds on the planet (if the currency had gone down, obviously this would have been a bad bet, but the reverse has been true year to date).
The net effect of all of this is that the BRL is probably amongst the most overbought currencies in the world at the moment. The central bank just lowered the SELIC (the BR equivalent of LIBOR), and if a big federally backed bank starts to melt down, I'd guess a 20-30 percent dip in the BRL relative to the USD will probably occur.
I'm no currency trader, but at 3.2 I'm short the BRL.
USD:BRL 1:3,20. Going down. The predicted 1:5 seems light years away. :)
USD:BRL 1:3,14. Havn't been that low since June 2015.
The água de coco index is going up fast.
In the last few days, the dollar has gained close to 30 cents! The current exchange rate is 1USD = 3.45BRL.
Exec Talent
12-14-16, 21:37
Hope all the FOREX experts made tons on money on the clearly signaled Fed rate hike.
How many people come here to give financial advice or even get financial advice? That would not be advisable on a mongering site. We come here to find out how much our next trip to Rio is going to cost us because of the exchange rate, we're happy when the dollar is stronger and we can buy more bucetta and better drinks etc, not to make money, that would be ridiculous. Unfortunately the dollar / real is down 15% from last year and buying power with inflation is even less, too bad we didn't get a bump. Better luck next year with more interest rate hikes I hope!
Soldierb11
12-31-16, 03:53
Hope all the FOREX experts made tons on money on the clearly signaled Fed rate hike.Yeah these guys are funny huh? As I write this I see the real / dollar at 3.25 to close 2016. Lets see all the highly accurate predictions made here over last six months.
The net effect of all of this is that the BRL is probably amongst the most overbought currencies in the world at the moment. The central bank just lowered the SELIC (the BR equivalent of LIBOR), and if a big federally backed bank starts to melt down, I'd guess a 20-30 percent dip in the BRL relative to the USD will probably occur.
I'm no currency trader, but at 3.2 I'm short the BRL.Oops.
Looks like Q4 the real will soften.Oops.
It is going to be 5 reais for 1 dollar but it is not for now, it is just a matter of time, now 1 dollar is 3 reais 32, it is going to keep going up.Oops.
Again I stick to the fundamentals..ROFL.
In this article from Bloomberg http://www.bloomberg.com/news/articles/2016-07-11/brazil-analysts-forecast-stronger-real-for-second-straight-week which is two months old, 100 economists forecast 3,40 BRL / USD at the end of the year and 3,55 at the end of the 2017Oops.
If you read my earlier post. The Brazil Real should be 5 to 1 or even 6 to 1 by now.Hahahah.
I agree with you. I also heard others mention this. There is strong manipulation of the currency right now. I'm sure the tide will reverse after the Olympics. Oops.
They are just propping up the Brazil real for the Olympics so they can cash out. Once the Olympics is over and the government realize its a bust and the bills are start coming in. By September look for the real to be 5 to 1 and by Next March 6 to 1.Too funny.
I was hoping to splurge my next trip with a great exchange rate, but 1 USD= 3.17 BRL and seems to be on a descending downward trend.
If I had a real for every time you have posted about the exchange rate hitting 5-1, I would have a beachfront apartment in Leblon. Its no secret the economy is in horrible shape but 5-1 ain't happening (I would love to see that however and will buy you a bucket of beer if it does) The exchange rate could drop again into the 2.5-1 range if oil prices rise again.Were you laughing too loud or what was the reason you forgot to quote your own prediction in Rio de Janeiro thread, just 4 months before your sarcastic post? 2,5-1, that was a bit low wasn't it? LOL
Soldierb11
02-24-17, 18:03
Were you laughing too loud or what was the reason you forgot to quote your own prediction in Rio de Janeiro thread, just 4 months before your sarcastic post? 2,5-1, that was a bit low wasn't it? LOLRe-read my post again. I said "if" oil rises the real "could" drop again into 2.5 range.
Oil hasn't dropped and I said the real could drop to 2.5. That is not a prediction. My prediction was and still is real does not. Go to 5-1. That is why I was laughing at all you currency experts and the predictions of a real crash.
Re-read my post again. I said "if" oil rises the real "could" drop again into 2.5 range.
Oil hasn't dropped and I said the real could drop to 2.5. That is not a prediction. My prediction was and still is real does not. Go to 5-1. That is why I was laughing at all you currency experts and the predictions of a real crash.Please re-read my earlier post. I didn't predict anything. I posted a link to Bloomberg's article, and explained in two words what it said. I consider Bloomberg a serious institution with some credibility on economic issues. Still it was good enough for you to ridicule.
What comes to your "if", all the economic forecasts, yours, mine or ForceSteeler's are based on many variables, which may or may not happen. Some of the posters based their predictions on failing Brazilian banks, world economy, oil price or if cows learn to fly etc. , so their "ifs" are as good as yours.
Some of you guys here take mongering and being always right too seriously. I don't think the purpose of this thread is to compete with The Economist or WSJ or make a ton of money. Sometimes speculating the future is just fun. If you cannot take anything lightly, just leave the others to speculate and concentrate on life and death issues like pussy price in VM.
Re-read my post again. I said "if" oil rises the real "could" drop again into 2.5 range.
Oil hasn't dropped and I said the real could drop to 2.5. That is not a prediction. My prediction was and still is real does not. Go to 5-1. That is why I was laughing at all you currency experts and the predictions of a real crash.1) Nordico did not predict anything, he just sent a link and wrote what experts predict.
2) You have to buy some glasses, you need to read the forum well.
3) Most people on ISG are not currency experts, they just send their thought about what will happen the next months or years.
4) this is a website where we can share some tips, experience and why not our thoughts about currency because we are not brokers.
5) I know I said 1 to 5 , maybe dollars are going to keep dropping or maybe the opposite, it is a matter of time, we never know what will happen later even currency experts made mistakes. The thing is not who is right, the thing is what's the best for everyone with a better currency rate. (vacation cost), accommodation, quality food, more pussies and drinks.
6) it is not because oil will drop reais will drop too, there is a better change for euro and yen and for some other currencies than last year.
Soldierb11
02-27-17, 07:55
1) Nordico did not predict anything, he just sent a link and wrote what experts predict.
2) You have to buy some glasses, you need to read the forum well.
3) Most people on ISG are not currency experts, they just send their thought about what will happen the next months or years.
4) this is a website where we can share some tips, experience and why not our thoughts about currency because we are not brokers.
5) I know I said 1 to 5 , maybe dollars are going to keep dropping or maybe the opposite, it is a matter of time, we never know what will happen later even currency experts made mistakes. The thing is not who is right, the thing is what's the best for everyone with a better currency rate. (vacation cost), accommodation, quality food, more pussies and drinks.
6) it is not because oil will drop reais will drop too, there is a better change for euro and yen and for some other currencies than last year.1- show me where I said Nordico made a prediction. Go ahead find where I said that. You won't find it because I didn't. I simply included his article link in my sarcastic post. I never criticized his opinion directly just laughed at the article.
2- Forcesteeler I did laugh at his 5-1 prediction. But he takes the sarcastic ribbing without getting his feelings hurt like Nordico here. That's why I told him that I would buy him a bucket of beers when it hits 5-1.
I also told him that I hope his prediction is true and mine is wrong because I spend 3 months a year in Brazil whereas he and others only get a few shorter trips.
3- of course the thread here it's a place where anyone can post their prediction on where they think the real goes to. They just need to not get their feelings hurt when someone criticizes their point and shows it didn't come true. I fully expect Forcesteeler to post here and a PM too when my prediction of the real doesn't see 5-1 becomes a big laugh as the real goes 5-1 then 5. 5-1 then more. I will laugh with him and make a new prediction that might or not be correct and we move on.
1- show me where I said Nordico made a prediction. Go ahead find where I said that. You won't find it because I didn't. I simply included his article link in my sarcastic post. I never criticized his opinion directly just laughed at the article.
2- Forcesteeler I did laugh at his 5-1 prediction. But he takes the sarcastic ribbing without getting his feelings hurt like Nordico here. That's why I told him that I would buy him a bucket of beers when it hits 5-1.
I also told him that I hope his prediction is true and mine is wrong because I spend 3 months a year in Brazil whereas he and others only get a few shorter trips.
3- of course the thread here it's a place where anyone can post their prediction on where they think the real goes to. They just need to not get their feelings hurt when someone criticizes their point and shows it didn't come true. I fully expect Forcesteeler to post here and a PM too when my prediction of the real doesn't see 5-1 becomes a big laugh as the real goes 5-1 then 5. 5-1 then more. I will laugh with him and make a new prediction that might or not be correct and we move on.It was sarcastic post.
OK no problem, I did not understand your sarcasm. I thought you were criticizing. I take back what I said.
Soldierb11
03-03-17, 11:36
It was sarcastic post.
OK no problem, I did not understand your sarcasm. I thought you were criticizing. I take back what I said.Yes a sarcastic post. If I was criticizing I would've said something like forcesteeler you know nothing! You are a fool! Etc etc.
But I did not because he isn't a fool. His points for a weakening were very valid. I just found the prediction of 5-1 or 6-1 to be ridiculously funny.
A move from 3.5 to 6 would be the same as a 3.5 to a 1-1 rate both not going to happen. Both central banks would become involved way before either happens.
Even the most astute currency trader is probably correct only 55% of the time. With my MBA I have a long and proven track record of being correct 40% of the time meaning I've lost way too much money and won't invest a dollar in currency market anymore.
Most of all I hope to be buying Forcesteeler that bucket of beer when I am proven wrong again and the real hit 6 then 7 to 1 and the Centaurus garotas are less than $100.
ForceSteeler
03-23-17, 20:45
Yes a sarcastic post. If I was criticizing I would've said something like forcesteeler you know nothing! You are a fool! Etc etc.
But I did not because he isn't a fool. His points for a weakening were very valid. I just found the prediction of 5-1 or 6-1 to be ridiculously funny.
A move from 3.5 to 6 would be the same as a 3.5 to a 1-1 rate both not going to happen. Both central banks would become involved way before either happens.
Even the most astute currency trader is probably correct only 55% of the time. With my MBA I have a long and proven track record of being correct 40% of the time meaning I've lost way too much money and won't invest a dollar in currency market anymore.
Most of all I hope to be buying Forcesteeler that bucket of beer when I am proven wrong again and the real hit 6 then 7 to 1 and the Centaurus garotas are less than $100.The Brazil Real prediction should be 5 to 1 Right now. Why was my Prediction Off?
These were the unforseeing events.
-Dilma Rousseff is Impeached.
-Cutting of All Social Safety Net and Pension Reform (Which caused mass riots).
-Central Bank Now Governs Brazil.
https://www.forbes.com/sites/kenrapoza/2017/03/22/central-bank-now-basically-governing-brazil/#503 cb5 f75206.
What is keeping the real from crashing is the selling of US Dollars and a massive investor influx of cash (Trickle down economics).
We all know trickle down tconomies only works for the short term, kinda like Donald Trump and the Republicans cutting taxes for the wealthy is going to stimulate growth. But it we all know its just a money grab by the Rich Elite and they pocket there tax cuts.
We tried that with the Bush Years and Kansas went extreme a few years ago and itsexperiment is a bust.
https://www.nytimes.com/2017/02/27/opinion/kansas-trickle-down-flood-of-red-ink.html?_r=0
Hi folks,
Now the dollar vs real is 1 dollar = 3 reais.
1 real = 0,34 cents of dollar.
Wow! Ten months since the last post here. The Dollar has been steadily increasing on the Real. It's at 3.59 as I write this. I'm still waiting on the 5 to 1 predictions to come true. LOL.
Dollar has gained 11 cents since my post last week. Currently exchanging at R3. 70 as I type this.
Dollar has gained 11 cents since my post last week. Currently exchanging at R3. 70 as I type this.Nice 3. 91 lets keep up the MO! Can we get a 5 by Christmas? LOL.
Nice 3. 91 lets keep up the MO! Can we get a 5 by Christmas? LOL.That 3.91 was short lived. It's back at 3.70! WTF?!
Dollar jumped to 3. 80 today. Hopefully, it keeps going up. But its Bad for the locals.
Nope. Dollar on a roller coaster ride vs the Real. Dropped to 3.72.
The dollar has steadily increased the last few weeks. It's currently at R3.91 as I write this. Euro is at R4.56.
Steve 9696
07-05-18, 16:54
The dollar has steadily increased the last few weeks. It's currently at R3.91 as I write this. Euro is at R4.56.Glad pussy is not pegged to the dollar! I will get 30% more pussy than just a year ago. Not complaining!
WTF, Man! The Dollar holding steady against the Euro, but Dropping against the Real! Currently at $R3.71.
Eszpresszo
07-29-18, 14:02
WTF, Man! The Dollar holding steady against the Euro, but Dropping against the Real! Currently at $R3.71.It's not that the dollar is dropping, but rather the Real is gaining against other currencies after taking a slide. The Real strengthened against the Euro, lock in step with the USD. Developing economies tend to have volatile currencies, just like everything else that is volatile about them.
One of the biggest factors on the strength of a developing nation's currency is going to be interest rates as determined by Federal Reserve Bank of the United States and the direction of interest rates as implied by the Fed's Board of Governors. With interest rates going up in the US, its going to work against the Real in the long run. It will work against other developing nation's currencies, as well (not so much against the Euro or Pound Sterling, as they have their own strong central bank policy). That's good news for mongers, whether your destination is the PI, the DR or Brazil. Just be ready for this kind of volatility in the near term. Who knows what it will be like a year from now, when I am planning to go.
Exec Talent
07-30-18, 15:13
It's not that the dollar is dropping, but rather the Real is gaining against other currencies after taking a slide. The Real strengthened against the Euro, lock in step with the USD. Developing economies tend to have volatile currencies, just like everything else that is volatile about them.
One of the biggest factors on the strength of a developing nation's currency is going to be interest rates as determined by Federal Reserve Bank of the United States and the direction of interest rates as implied by the Fed's Board of Governors. With interest rates going up in the US, its going to work against the Real in the long run. It will work against other developing nation's currencies, as well (not so much against the Euro or Pound Sterling, as they have their own strong central bank policy). That's good news for mongers, whether your destination is the PI, the DR or Brazil. Just be ready for this kind of volatility in the near term. Who knows what it will be like a year from now, when I am planning to go.As a currency trader you hear all the constant chatter as to why a particular currency does this or that. The truth is far simpler as is the case with most markets. Money is only made based upon movement up or down. If you do not believe this is as a result of insider trading and market manipulators then go read Cat in a Hat because it is closer to a true story than this economy or that economy or this Central Bank and that Central Bank. The only relevant tea leaves are those that give you a clue as to what these guys are going to do next. The nonsense you hear from the financial media is just that, nonsense. They have to babble on about something.
Eszpresszo
07-31-18, 00:30
The only relevant tea leaves are those that give you a clue as to what these guys are going to do next. The nonsense you hear from the financial media is just that, nonsense. Well, I certainly agree that financial media is largely full of nonsense and buying into it is hazardous to your wealth. However, it would be similarly unwise to disregard the actions of the central bankers, who control the money supply of the world's reserve currencies (and I will leave it at that).
The Real is currently at 3. 90 to the Dollar as I write this. 4. 44 to the Euro.
Eszpresszo
08-16-18, 12:20
The Real is currently at 3. 90 to the Dollar as I write this. 4. 44 to the Euro.Yes. Rising interest rates in the US will normally make the USD a stronger currency against others. At the same time, that action will particularly impact the currencies of developing nations. But, the collapse of the Turkish Lira is having a strong impact on financial markets this week, hitting the developing world in particular. The Colombian Peso is now back over 3000 per USD. Since I am leaving for Colombia in two weeks, this is great news. Sex for under $20 is on the menu. But, you are headed for Germany and sadly, the Euro hasn't weakened that much against the USD. But, that's good news for those in Europe, as well as they prepare for holidays in Thailand, Bali, and the DR (though it is a bit off season for the Europeans). All the currencies of those holiday destinations are a bit weaker, as well.
Steve 9696
08-16-18, 15:54
The Real is currently at 3. 90 to the Dollar as I write this. 4. 44 to the Euro.As a result, I for one plan to have 4/3 more sex than a year ago. Join the movement!
As a result, I for one plan to have 4/3 more sex than a year ago. Join the movement!Good time to go. Given a little time, the girls at the Sao Paulo boates and the Rio termas will likely try to jack up their prices. The boate girls aren't stupid. They like nice things that are priced locally based on the dollar.
Nice 3. 91 lets keep up the MO! Can we get a 5 by Christmas? LOL.Todays close 4. 0379, yeah baby! Can we hold it?
Steve 9696
08-21-18, 21:42
Todays close 4. 0379, yeah baby! Can we hold it?Yes I got 3. 96 today at the ATM (but with ATM fee it was 3. 71) Still very good. I am thrilled with what I am getting for the price down here. Top shelf looks!
ForceSteeler
08-22-18, 17:32
Yes I got 3. 96 today at the ATM (but with ATM fee it was 3. 71) Still very good. I am thrilled with what I am getting for the price down here. Top shelf looks!Here is a pro tip: If you guys want to get the best rate at a money exchange place. Let a brazilian person change the money for you. When I go to Brazil, I have my Brazilian maid change my money. She gets the exact rate. So if its 4.03 to $1 Dollar. I get exactly 4.03.
If your a Gringo, especially if you don't speak Portuguese and can't blend in like a local. You will not get the best rate. When your a gringo, They will try to take 8-30 Real off every $100 you exchange.
I'm glad the Brazilian real is devaluing. I'm heading there in 2 months, so maybe it gets to 5 to 1. If the left wing party (Workers Party) of Brazil take over, Look for the Brazil real to head to 5 to 1 or maybe even 6. The Workers Party will try to save Brazilians pension plans and offer higher worker wages.
Now if the Right Wingers win like (Jair Bolsonaro) Look for the Brazil Real to get strong. It will head back to the 3's or even 2 to 1. As the right wingers will cut workers Pension, cut government programs and services, which will satisfy Foreign Investors, and Hedge Managers on wall street.
https://www.bloomberg.com/news/articles/2018-08-21/brazilian-real-slumps-beyond-4-00-amid-cloudy-election-outlook
Yes I got 3. 96 today at the ATM (but with ATM fee it was 3. 71) Still very good. I am thrilled with what I am getting for the price down here. Top shelf looks!If you're from Amerika, get yourself a Charles Schwab Checking account, (You'll have to open a Schwab One brokerage account first.) They refund all ATM fees at end of Month. You'll have to open a Schwab One brokerage account first.
Another one is the Aspiration Card, but Schwab card easier to use.
Another option: Bradesco ATM's have no withdrawal fees.
.Now if the Right Wingers win like (Jair Bolsonaro) Look for the Brazil Real to get strong. It will head back to the 3's or even 2 to 1. As the right wingers will cut workers Pension, cut government programs and services, which will satisfy Foreign Investors, and Hedge Managers on wall street.Having been to Brasil since 1984, having worked in the industry, and remembering well many run-ups to elections, new currencies and devaluations, and the exchange rate drop during the 2002 campaign, refer the article link to give yourself an understanding of what is actually in play here in situations such as this:
https://www.counterpunch.org/2018/07/27/argentinas-new-50-billion-imf-loan-is-designed-to-replay-its-2001-crisis/
Fa-King dollar is 4.11 to the Real as I write this. The Highest its been is 4.17. The Euro is at 4.75!
Having been to Brasil since 1984, having worked in the industry, and remembering well many run-ups to elections, new currencies and devaluations, and the exchange rate drop during the 2002 campaign, refer the article link to give yourself an understanding of what is actually in play here in situations such as this:
https://www.counterpunch.org/2018/07/27/argentinas-new-50-billion-imf-loan-is-designed-to-replay-its-2001-crisis/And it's absolutely not a conspiracy theory.
Having been to Brasil since 1984, having worked in the industry, and remembering well many run-ups to elections, new currencies and devaluations, and the exchange rate drop during the 2002 campaign, refer the article link to give yourself an understanding of what is actually in play here in situations such as this:
https://www.counterpunch.org/2018/07/27/argentinas-new-50-billion-imf-loan-is-designed-to-replay-its-2001-crisis/Their "solution" is criminal, stealing, not paying back their loans. I expected better.
JamieStarr38
09-09-18, 22:23
Fa-King dollar is 4.11 to the Real as I write this. The Highest its been is 4.17. The Euro is at 4.75!Hello fellow mongers,
Traveling to Rio in late March, will be there for 1 month. What are the chances the exchange rate remaining at 4 -1?
New record, USD: BRL 1:4,20.
https://veja.abril.com.br/economia/incerteza-eleitoral-leva-dolar-a-r-420-maior-valor-do-plano-real/
HungryStud101
09-14-18, 02:38
Here is a pro tip: If you guys want to get the best rate at a money exchange place. Let a brazilian person change the money for you. When I go to Brazil, I have my Brazilian maid change my money. She gets the exact rate. So if its 4.03 to $1 Dollar. I get exactly 4.03.
So, I should find the hotel maid and hand over $700 USD and tell her to exchange it for me?
So, I should find the hotel maid and hand over $700 USD and tell her to exchange it for me?
Don't believe all the "pro tips" you read in this forum.
This pro tip reminds me of a gringo I met in Manaus. He arrived in the city and needed to exchange USD. He asked a guy selling scissors, displayed on a carton, on the street where he could exchange money. The guy said he could help him. The gringo handed over 1000 USD to the guy. The guy told the gringo to watch his scissors carefullt while he went to exchange the money. The guy left with the money. The gringo stayed watching the scissors. After a couple of hours the gringo realized the guy wasn't coming back.
HungryStud101
09-14-18, 06:11
Don't believe all the "pro tips" you read in this forum.
Don't worry. LOL. That pro tip I would advise against. Luckily, when I arrive, my friends usually want the US dollars for vacations and we work out a deal. Otherwise I use an ATM. My Credit Union no longer charges an international fee. I also have no problem going to a place outside of the airport to exchange some currency. I shop around. But I'll be damned if I hand 1000 $ off to a cleaning lady.
I also have no problem going to a place outside of the airport to exchange some currency.Do NOT use the airport ATM's. They're well know to have skimmers. By the time you reach your hotel / apartment, your card will have been cloned and used multiple times.
HungryStud101
09-14-18, 13:45
Do NOT use the airport ATM's. They're well know to have skimmers. By the time you reach your hotel / apartment, your card will have been cloned and used multiple times.Thanks Java.
I have heard of this. Why would the airport ones be any different than any of the others? My friends go to the Bradesco machines all the time. I haven't seen them hesitate and they are Brazilians. How do you know which ATMs to avoid?
Another good article about the currency.
https://riotimesonline.com/brazil-news/rio-business/brazilian-real-reaches-lowest-level-against-us-dollar-since-1994/
Thanks Java. I have heard of this. Why would the airport ones be any different than any of the others? My friends go to the Bradesco machines all the time. I haven't seen them hesitate and they are Brazilians. How do you know which ATMs to avoid?Apparently, this scam has been going on for years at the international airport. The authorities and banks are aware of the problem and have done nothing to resolve it. On one trip, I was a victim of this and that card had a chip. Google search shows the most recent post about this was in 2016.
"Before inserting card, grab, twist, and pull that part of the ATM, skimmers will come off or feel loose. Also look at the machine itself, if the colors of the parts of the ATM do not match, chances are they may have been tampered with. Lastly, look around the machine, there should only be a single camera lens on the machine. If you see a second camera, walk away."
My last trip, I used Bradesco exclusively, they don't charge ATM fee like the other banks.
Java Man -so how to get Reals for taxi and immediate expenses on arrival at GRU? I doubt money exchange would offer a good rate. Please advise.
Thanks,
Frankfurt.
Do NOT use the airport ATM's. They're well know to have skimmers. By the time you reach your hotel / apartment, your card will have been cloned and used multiple times.
Java Man -so how to get Reals for taxi and immediate expenses on arrival at GRU? I doubt money exchange would offer a good rate. Please advise. Thanks, Frankfurt.Uber is available in RJ. Get the Uber app on your phone. Pay the taxi by Credit Card. If that does not appeal to you, exchange $50 - $100 USD at the airport. If you arrive during the day, hit an ATM near your hotel / apt. Also keep enough Reals on your departure, to have when you return.
Thanks Java Man -plan to use uber from GRU to hotel and since I will arrive in afternoon, will use an ATM or a recommended exchange office by another ISG member near my hotel.
Frankfurt.
Uber is available in RJ. Get the Uber app on your phone. Pay the taxi by Credit Card. If that does not appeal to you, exchange $50 - $100 USD at the airport. If you arrive during the day, hit an ATM near your hotel / apt. Also keep enough Reals on your departure, to have when you return.
Holy Crap! O Dolor has crossed the $R4 threshold! Currently at $R4.04.
Eszpresszo
05-17-19, 12:46
Apparently, this scam has been going on for years at the international airport. The authorities and banks are aware of the problem and have done nothing to resolve it. On one trip, I was a victim of this and that card had a chip. Google search shows the most recent post about this was in 2016.
"Before inserting card, grab, twist, and pull that part of the ATM, skimmers will come off or feel loose. Also look at the machine itself, if the colors of the parts of the ATM do not match, chances are they may have been tampered with. Lastly, look around the machine, there should only be a single camera lens on the machine. If you see a second camera, walk away."
My last trip, I used Bradesco exclusively, they don't charge ATM fee like the other banks.Yes, they do. Around are 15-20 Reais per transaction, possibly higher. I can't believe that anyone who has been to Brasil would not have noticed that. I just came from Brasil. Schwab gave me a rebate on the fees, though. Your biggest problem will be finding an ATM that will take your overseas card. Not all ATMs, even in banks will take a foreign card. Some that will may be marked with a small notice with all card symbols. Santander sometimes posts a sign in their branch in English to indicate their ATMs will. See the attached photo I took outside the Santander branch on Paulista, near MASP. Another nearby Santander branch on Consolacao would not take my card. You may have to go to various bank branches to find one that will, and eventually you will. Short story long, you won't be able to get cash from just any ATM you see. And if your bank does not refund your fee, limit the amount of transactions you make at ATM. Also note that credit and debit cards are taken at about 95% of the businesses you will encounter. So, if you don't have cash it won't be a huge problem.
The Dollar is now at $R4.10. The Euro at $R4.57. Wow!
The Dollar is now at $R4.10. The Euro at $R4.57. Wow!Just checked recently and the American dollar is still holding strong against the Brazilian real! This could justify spending up to 800 reals on a really hot Brazilian tute at Scandallo who is ready to deliver the goods.
Just checked recently and the American dollar is still holding strong against the Brazilian real! This could justify spending up to 800 reals on a really hot Brazilian tute at Scandallo who is ready to deliver the goods.It gotten Even Better, currently at $R4.16.
For the first time since I've been coming to Brazil, I arrived planning to rely heavily upon ATM machines to get cash versus bringing a pile of dollars with me, and then going to a cambio to make exchanges for what I needed. There always seemed to be so much skim scamming going on in Brazil, so I always felt more comfortable bringing cash and exchanging it for reals. Well this time, my circumstances dictated that I would need to rely upon the ATMs, and so far things have been fine.
One of my frustrations in preparing for this trip was that I just couldn't seem to get enough good, reliable, updated information regarding the best banks to use, withdrawals limits, how to stay safe, and what precautions to take to prevent getting skimmed, mugged, etc. I did get some feedback, and a lot of it was common sense kind of stuff, which I already practiced. Like only using known and reputable banks, making sure that you go inside of a branch versus using a machine facing the street, making sure there is good lighting, protecting your pin, etc. All good advice, which I followed.
But which banks to use? Based upon my experience so far, I like Bradesco the best. The screen interface was the most user-friendly for me, and I could withdraw the most in one transaction. For example, one time I took out 2,500 reals at once. And, you can make multiple transactions to withdraw the amount of money that you want. Next best was Santander, which I have used before in Latin America and Europe. Although not as user-friendly, their ATMs in Brazil were easy enough to figure out. However, the withdrawal limit is lower at 1,000 reals, which is still good. And again, you can make multiple withdrawals until you have what you need. Both banks charge a fee, but my institution back in the States refunds all foreign transaction fees, and they don't themselves charge any fees. So, a pretty good deal when it comes to avoiding ATM fees, which I refuse to pay to get my own money!
Lastly, as a part of my experimentation with different banks, I also tried to withdraw money from Itau and Caixa. My card didn't even work at either of those two banks, and was rejected. So based on my trials so far, I recommend Bradesco and Santander in order to use a USA -issued debit card to withdraw money from their ATM machines. Hope this info helps somebody.
So, I stopped by at 11 in the morning on a Saturday at the Bradesco branch I had been using and three of the ATM machines did not work! One just seemed to be malfunctioning since it wasn't showing me all of the choices on the screen. I tried two other machines, but they apparently were out of money, or at least weren't carrying the amount I requested. Now, there was a large number of machines in there, but I wasn't going to move around trying all 12 of them (or exactly how many there were).
I decided to walk up the street to the Santander Select branch I had used, but they were totally closed! OK, so the hell with it! I went to Shopping Ibirapuera where I knew there were Bradesco and Santander ATMs. I was planning to go to that shopping center anyway. Got there and found the Bradesco machines located on the Piso Moema level, and pulled out what I wanted to. Santander is on the Piso Ibirapuera level, which is the floor on which you enter the shopping center from the street.
I can see how the first Bradesco I had been using might run out of cash on a weekend. It's at a busy intersection where a lot of buses pick up and drop off during the workweek. Those machines in there get used heavily due to a lot of foot traffic. I wasn't in dire need for some cash, but I wanted to plus up some because I know I have some upcoming travel to a city I have never been to before, and I just didn't know how hard or easy it would be for me logistically to find a convenient ATM machine that would work with my debit card. Better safe than sorry, especially since I will arrive on a weekend.
NotSoYoung
02-22-20, 16:39
Specific ATM / Exchange suggestions.
I will be staying essentially next door to Monte Carlo on Rua Hilrio de Gouvia, 19.
I will be arriving at 8:30 pm Rio international airport. I guess I would be arriving at the apartment somewhere around 9:30 10 PM Monday 2nd March.
My plan for the night is just to go to Monte Carlo keeping it easy and close by on thr fist night after a long flight.
Anyone care to make any suggestions for changing money (British Pounds) in that area, at that time of night.
I am assuming that the Gambios and banks will be closed.
The current exchange rate is 1 pound to about 5. 6 reals.
I see my options as.
1) Paying the credit charge surcharge in Monte Carlo (Iv read 50-70 reais).
2) Changing money at the airport (probably a terrible rate).
3) Changing money in UK first. Not many places to change and rate is about 4. 8 to 1 pound.
4) Withdrawing money from ATM at the airport- do you get the same rates from these ATM are there ATM fees?
5) Finding an ATM in the area near the apartment- I know there are ATM's on Av. Nossa Sra. De Copacabana (I understand Bradesco are generally quite good for foreign cards) but are these ATM's internal only or can any be accessed from the street given the tome In the evening.
With regard to options 4 and 5 I am not too concerned with fraud / cloning risk because these cards are specific travel card which I can manage online banking and can lock the cards when I am not using them and only have enough money in the account when and where I want to take It out.
I am leaning towards option 4 for the first night and then can worry about more withdrawals or changing money the next day.
Exec Talent
02-22-20, 20:02
Specific ATM / Exchange suggestions.
I will be staying essentially next door to Monte Carlo on Rua Hilrio de Gouvia, 19.
I will be arriving at 8:30 pm Rio international airport. I guess I would be arriving at the apartment somewhere around 9:30 10 PM Monday 2nd March.
My plan for the night is just to go to Monte Carlo keeping it easy and close by on thr fist night after a long flight.
Anyone care to make any suggestions for changing money (British Pounds) in that area, at that time of night.
I am assuming that the Gambios and banks will be closed.
The current exchange rate is 1 pound to about 5. 6 reals.
I see my options as.First, good for you being aware of exchange rates.
Second, good job laying out your options.
You are right in that option 4 is probably best for a small amount with a plan to exchange more at a competitive rate later.
Another option is you should see some guys looking to exchange money for you. This is why it is important to know if they are offering you a fair rate. Hear them out and make a counteroffer. When I have done this I always have the amount I want to exchange easily accessible. You do not want to be looking in your bags, showing a lot of cash or fumbling around in the middle of the airport. You want to agree on the rate, make the exchange and move along.
Specific ATM / Exchange suggestions.
Exchange rates at the airport are bad, but if you do barter with them.
Most bank ATMs refused my UK card including Santander. Bradesco bank worked everytime, only use ATMs inside banks.
Assuming you need cash for a taxi, airport ATM is probably best.
You will get a better exchange rate using gambios, but you need to walk around a few, the more you change the better the rate.
See my earlier post about gparena.
Steve 9696
02-22-20, 22:37
Exchange rates at the airport are bad, but if you do barter with them.
Most bank ATMs refused my UK card including Santander. Bradesco bank worked everytime, only use ATMs inside banks.
Assuming you need cash for a taxi, airport ATM is probably best.
You will get a better exchange rate using gambios, but you need to walk around a few, the more you change the better the rate.
See my earlier post about gparena.The general rule of thumb is the farther you get from arrival gates the better the rate. Last two years I've been there was one on the right just before you go out the door to Uber or pickup. Very fair rate.
USD currently at $5. 72 due turmoil in the Bolsonaro government. If the Economic Minister quits, the Reals going into the tank!
https://www.forbes.com/sites/kenrapoza/2020/04/24/brazil-stocks-tank-as-famous-car-wash-judge-sergio-moro-quits-government/#251 d0 f4 d30 ec.
I will post it here as many may combine travel to Argentina:
Six types of exchange rates for USD.
Maybe Argentinians have half of a trillion in USD under mattresses and more in Montevideo.
These rates are relevant for today August 4, 2020 and the mechanism will likely change in the future.
The official dollar (dólar official) is trading this Tuesday, August 4, at $ 71.86 for purchase and $ 76.84 for sale in banks.
As for the blue dollar (your black market or street dollar) (dólar blue), this day is trading at $ 131.00 for the purchase and $ 136.00 for the sale. Thus, it marks a gap (la brecha) of 82% with respect to the official dollar. The value of the blue dollar has a substantial difference with the official dollar, which is purchased from banks and has an established price.
On the other hand, the tourist dollar (also known as the solidarity dollar)(theólar turista / theólar solidario) is trading at $ 99.45. This value is the one used when buying dollars for savings or for making transactions abroad (using credit or debit cards) and it's higher by 30% of the value of the official dollar of the day.
Another exchange rate is the wholesale dollar (dólar mayorista), which starts the day at $ 67.80 for purchase and $ 67.80 for sale.
In relation to the Cash with Liqui (CCL)(Contado con liqui CCL), the reference price is $ 116.01. The CCL is the operation that allows companies to buy Argentine issued financial instruments in the local market and sell them abroad in order to use foreign currency for "hoarding".
How many types of dollar are there in Argentina?
Today in Argentina there are at least six different types of quotes for the US currency, some more used than others.
1) Savings dollar / card or tourist / solidarity dollar (Dólar ahorro / tarjeta o theólar turista / solidario): it has a surcharge of 30% imposed by the Government on purchases made with a card in foreign currency and on the acquisition of foreign currency for savings ("atesoramiento") within the official circuit.
2) Blue dollar (dólar blue): these are banknotes sold in the informal market, through what Argentinians call "caves" or "little trees" (cuevas o "arbolitos") on the street.
3) Counted with Liqui: (Contado con Liqui): it is a legal operation to get dollars abroad. It has became the preferred path for companies. Argentine stocks or shares are bought in pesos and then sold abroad in dollars.
4) Official or retail dollar (Dólar oficial o minorista): it is the price that individuals can access but always within the US $ 200 monthly limit (cepo).
5) Wholesale dollar (Dólar mayorista): it is the one used for foreign trade, the payment of debts denominated in USD and dividends. Theoretically, it is the one that influences the pricing of imported products.
6) Dollar for industry and services (Dólar para industria why servicios): due to the effect of withholdings, exporters of manufactures and services actually receive a dollar at a lower value than the official one, and much lower than the blue one. Within this category, there are different values for those who export meat and dairy products, for wheat, corn and sunflower and for soybeans.
Vagabundo1
07-10-21, 03:10
Where is the usd brl going from here?
Vagabundo1
09-23-21, 18:08
What is the outlook for the BRL from here?
Posted is the historical chart of BRL v USD, and BRL v CHF.
Don't think I would want to tie my finances to Argentina's: https://www.ft.com/content/5347d263-7f24-4966-8da4-79485d1287b4.
Don't think I would want to tie my finances to Argentina's: https://www.ft.com/content/5347d263-7f24-4966-8da4-79485d1287b4.Sorry about that folks. Here's something you can read (I hope): https://www.cnbc.com/2023/01/23/brazil-and-argentina-to-discuss-common-currency.html.
Don't think I would want to tie my finances to Argentina's: https://www.ft.com/content/5347d263-7f24-4966-8da4-79485d1287b4.My bet is it'll fall through. But even if not, this might be a concern for our kids, not us. As this article states, Euro took 35 years to create.
Seems this could be a good time to consider going to Brazil's neighbor to the south (very cash friendly at this time):
https://www.cnbc.com/amp/2023/03/11/i-doubled-my-money-in-argentina-with-a-black-market-exchange-rate.html
Seems this could be a good time to consider going to Brazil's neighbor to the south (very cash friendly at this time):
https://www.cnbc.com/amp/2023/03/11/i-doubled-my-money-in-argentina-with-a-black-market-exchange-rate.htmlNo comments about this one? I was sure cash being king to the south would garner some discussion and spur some interest in going there, at least as a side trip from Brazil.
Eszpresszo
03-29-23, 01:10
No comments about this one? I was sure cash being king to the south would garner some discussion and spur some interest in going there, at least as a side trip from Brazil.There is no value to foreigners out of this. Argentina's currency is falling for a reason. Its in an inflationary spiral. Prices are not that low even if you get the preferential exchange. Due to inflation, which was 94% last year, they are rising quickly and I'm not sure if the fall of the peso is keeping up with rising prices. To give you an example, the official rate was 124 Pesos per USD when I arrived at the end of August 2022. This week it is 386-390 per $1. This is simple economics 201 (literally). Prices are rising rapidly and I don't see any deals on punting based on my experiences last September. Quite simply, Argentina was the worst, even if the average woman on the street is quite attractive.
https://bluedollar.net/informal-rate/
The blue rate was broadcast daily on this TV program that was always on when I went to eat at this cafe near where I stayed. See attached photos.
It's not that Argentina is cash friendly, but credit cards are not widely accepted there. Really. Nor would you want to use credit cards as you would pay the extortionate official rate. On my first night there I went to the grocery store and used my card. They needed my ID to complete the transaction. Yes you get double the exchange rate on the street or via sending yourself cash via Western Union (yes you can send yourself cash to Western Union from your bank with the phone app though the fees are extortionate) which pays the Blue Rate. But, that doesn't make Argentina cheap. At least not in Buenos Aires. While good wine is cheap at the corner store, a cup of ramen noodles of all things, was pricey by US standards (about $2. 50 at the official rate that week). Really. The first night I arrived, I did not have any pesos yet, as I arrived late and the host of my AirBnb was going to exchange pesos with the next day. I went to a famous pizza place on Avenida Corrientes (the Broadway of Argentina) and paid for dinner with my card. I ordered a small personal size pizza and two small draft beers. It came up to nearly $24 USD (about what you pay in the US).
Do individuals accept foreign currency? Gladly. But, you need to know what the prices are do the math quickly in your head or with a calculator. For the taxi ride from Puerto Iguazu to the falls on the Argentinian side, I was able pay with a mix of dollars, reais, and leftover Argentine Pesos from my previous visit two months earlier. I'm pretty sure the cabby got the better end of the deal. By the way, foreigners pay a premium to enter the national park on the Argentine side of the falls. The Brazilian side is cheaper and has a much better view of the falls, though I don't regret seeing both perspectives.
As for mongering, Buenos Aires was the most frustrating experience of my life. There is no Truvalia Advertising webpage for escorts in BA (Truvalia is the Bulgarian "publisher" of Photoacompanhantes and for other websites that provide escort ads for half of South America). There were local websites with girls but they were crap. Prices were not cheap even if you have exchanged cash at the blue rate. I did contact a number of girls there but their responses were largely unprofessional. Not all of them, maybe less than half use Whatsapp unlike Brazil and Colombia.
As for the punting experience, it was disappointing. Unfortunately, there was no current, post pandemic info on the Buenos Aires forum and though I am registered on that unique forum, I was unable to put up a travel notice or ask for help. With no other resources, I had to sort through the websites I found for the locale. One girl made an appointment to meet me at her love hotel of choice in just 40 minutes. It was a 15 minute walk from my AirBnb. She didn't show up nor did she answer my zap messages. At least the guy at the desk at the hotel suggested I take a chair and wait for her to show up, though I was ready to pay for the room at the moment I arrived. Good thing I took his advice. Exactly two weeks later she sent me another Whatsapp message explaining that she had trouble with her zap. Even if that was true, how did it make her forget to show up at the hotel she directed me to in less 40 minutes?
I reached out to another girl on Whatsapp, and got a professional automatic response message with prices, and details. She was across town though But we agreed to make an appointment for the following afternoon. When the time approached the next day, I sent a zap to confirm the appointment and get the location. I got another automatic response with new prices. Almost 30% higher than the day before! At first, I wondered if this was a gringo ripoff, but it was an auto response, so I'm guessing she was doing what she had to do in such an inflationary environment. My rent went up 37% in April of last year, so I can't say her operating costs are not going up. I can only imagine what her rate would be now. But, I don't care as I have no interest in returning soon.
You're wondering why I don't post this beef on the Buenos Aires forum? Well, its seems I am unable to post anything there, so I will post it here.
Eszpresszo
04-03-23, 01:20
As of the beginning of March, I noticed something was not right at the ATMs here in Brazil. The foreign exchange commission on foreign ATM cards has gone up.
The first time I noticed it was on the loathsome Banco24 Horas ATMs that are ubiquitous in supermarkets, shopping malls and bus stations. Previously a lofty 14% it actually went up to 15% recently. I try to avoid using those, but the thing is, they are actually very convenient, they almost always work when the ATMs are down or just not taking your card at Bradesco or Santander. They are you last resort, and an expensive one. Sadly, they are the easiest and quickest to use of all Brazilian ATMs.
However, I went to withdraw cash from a Bradesco ATM and lo, it was up to 11%, whereas it had previously been 8% commission, which is high when you consider numerous bank ATMs in Colombia charge 6%, maybe 5%. But, 11%? I did a withdrawal from Santander and it had also gone up from 8% to 10%. Not as high as the others, but still a dime out of every buck you exchange.
I didn't try the ATMS at Banco do Brasil our Itau, as those have never worked with any of my debit cards, whether it be Schwab, Chase, Comerica or Truist / BB&T. A Brazilian woman I went out with had a German bank account and told me Itau quit working with foreign cards, years ago. Forget about CAIXA, those places are weird. I was dating a woman here in SP, and she had trouble getting her CAIXA card to work at their ATMS.
Summary: look for other ways to get cash. There are various apps and banking services that will let you get cash at a good exchange rate at other types of locations. You can get cash at Western Union withdrawn directly from your bank account using their app. But, the fees are even worse, if not extortionate. REMITLY and XOOM (Paypal) look promising, but I've yet to try them out and it will have to wait. I'm leaving for Bolivia tomorrow, so who knows what surprises that might bring at the ATM.
After 4 yrs away, I've returned to Rio. Last time I was here I used by Schwab card at a Bradesco ATM with no issues. I tried the Bradesco ATM on Barrata Ribeiro after I landed, but it rejected the card. I called Schwab who said it could be an issue with the ATM, as there was no block from them So I went to the Banco do Brasil branch on NS Copa but gave me an over limit withdrawal message. Tried other ATM's there not they didn't accept the Schwab card. I looked at Santander nearby but didn't see the Visa, MC icons on the ATM's. Went across the street to Bradesco, and I was able to withdraw Reals. WTF! A few days later I tried the Bradesco branch on Barrata Ribeiro again and it worked!
Then yesterday, my Schwab card was rejected by ALL the Bradesco ATM's at the NS Copa and Barrata Ribeiro branch. I tried the Banco do Brasil branch: Several ATM's weren't dispensing money, A few said I was over the limit, one said I entered the PIN incorrectly. Last resort: Banco24 hrs, It worked, no issues, but a are $24 fee, ($4. 79 usd. } BTW, ALWAYS decline the conversion ANY offers you. It's a ripoff.
And today, I was able to make a withdrawal at the Barrata Ribeiro branch. WTF is going with these banks ATM's? Welcome to Brazil. SMH.
After 4 yrs away, I've returned to Rio. Last time I was here I used by Schwab card at a Bradesco ATM with no issues. I tried the Bradesco ATM on Barrata Ribeiro after I landed, but it rejected the card. I called Schwab who said it could be an issue with the ATM, as there was no block from them So I went to the Banco do Brasil branch on NS Copa but gave me an over limit withdrawal message. Tried other ATM's there not they didn't accept the Schwab card. I looked at Santander nearby but didn't see the Visa, MC icons on the ATM's. Went across the street to Bradesco, and I was able to withdraw Reals. WTF! A few days later I tried the Bradesco branch on Barrata Ribeiro again and it worked!
Then yesterday, my Schwab card was rejected by ALL the Bradesco ATM's at the NS Copa and Barrata Ribeiro branch. I tried the Banco do Brasil branch: Several ATM's weren't dispensing money, A few said I was over the limit, one said I entered the PIN incorrectly. Last resort: Banco24 hrs, It worked, no issues, but a are $24 fee, ($4. 79 usd. } BTW, ALWAYS decline the conversion ANY offers you. It's a ripoff.
And today, I was able to make a withdrawal at the Barrata Ribeiro branch. WTF is going with these banks ATM's? Welcome to Brazil. SMH.Every attempt counts your daily limit, and daily limit depends on your institution hours which usually are different from Rio's. The next day the limit resets. Santander doesn't work. Even within a Bradesco branch, some ATMs dispense and other don't.
Every attempt counts your daily limit, and daily limit depends on your institution hours which usually are different from Rio's. The next day the limit resets. Santander doesn't work. Even within a Bradesco branch, some ATMs dispense and other don't.Found out the hard way when I tried to withdraw are $1,000 on Sunday in SP. According to the receptionist in my hotel there is a state-wide law in SP that cups daily withdrawal to are $500 on Sundays. Some sort of security precaution.
Just for folk to keep in mind to avoid panicking if you get rejected trying to withdraw more than 500 in SP on Sunday.
REMITLY and XOOM (Paypal) look promising, but I've yet to try them out and it will have to wait.Remitely charges $4. 99 usd to send money express. It may take minutes or hours depending where you're sending the money. You'll have to pay with debit or credit card. The economy option costs $1. 99 usd but can take 6 days to be delivered. You use your bank account for that. Wise is another option. Depending on where you're sending the money, it could be instant or a few minutes. The fee varies on how much and where you're sending to. They have a fee calculator on their site. : https://wise.com/gb/pricing/send-money?sourceAmount=1000&sourceCcy=USD&targetCcy=BRL&tab=0 I'm unfamiliar with zoom.
Found out the hard way when I tried to withdraw are $1,000 on Sunday in SP. According to the receptionist in my hotel there is a state-wide law in SP that cups daily withdrawal to are $500 on Sundays. Some sort of security precaution. Just for folk to keep in mind to avoid panicking if you get rejected trying to withdraw more than 500 in SP on Sunday.Can you withdrawal more than once? I was able to withdraw $R1000 twice today at Bradesco in Rio. You should be able to withdraw until you hit YOUR banks daily limit.
Can you withdrawal more than once? I was able to withdraw $R1000 twice today at Bradesco in Rio. You should be able to withdraw until you hit YOUR banks daily limit.Yes, you can. In Banco Bradesco you can make at least two withdrawals, 2500 reais each.
What's up with Mondays and the Bank ATM's? Yesterday was the second Monday I couldn't withdraw Reals from Bradesco ATM's. I visited the two branches: NS Copa and Barrata Ribeiro. No problems today.
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