Real vs Dollar and other currency issues

[Tiradentes]

But, will she have a mandate? Rocky times to Brazil are expected.

[ForceSteeler]

What you say is what I have read also. But I don't understand one thing about this forecast. Dilima's govt has been actively intervening in the currency market, trying to keep the Real from falling further. And Neves has said that he will let the Real float free. So I don't understand why the forecast does not have the Real falling further with Neves than with Dilma. Can anyone explain this?

Well to make a long story short, economist can tell you that the Brazil Real is way overpriced. The current president (Dilma) has been doing currency swaps to prop up the real to keep it from falling.

Neves (Business / Capitalist guy) will stop currency swaps If he becomes President and he can afford to due it, because he has alot of Bankers and Investors on his side. Dilma does not have the business community support.

But ultimately whoever becomes president the Brazil is way overpriced and after the Olympics, the Brazil economy will be a bust. Neves may be able to stop the bleeding but all these investors and bankers are looking to make a quick profit.

The bankers could give two shits about the people, and its all about the people when we are talking about elections.

[Member #4732]

It won't get that high until after the election. The 2nd runoff is October 26.

I Hope Rousseff Wins. All the investors hate her, So if she wins you the Brazil Real will hit 3:00 to 1. If The Opponent Cunha Wins (Pro Business / Capitalist). Look for the real to get stronger, Will be under 2:00 for at least 2015.

I have my fingers crossed, I will be in Brazil November, So I hope it hits 3:00.

What you say is what I have read also. But I don't understand one thing about this forecast. Dilima's govt has been actively intervening in the currency market, trying to keep the Real from falling further. And Neves has said that he will let the Real float free. So I don't understand why the forecast does not have the Real falling further with Neves than with Dilma. Can anyone explain this?

[Tiradentes]

Last Sunday night, former governor Aecio Neves didn't win his own state Minas Gerais during the first round of voting. He came close though. Out of the 9 million votes cast in MG, the difference between the two candidates was just few thousand votes.

If Aecio wins MG (very plausible) and RJ (doable, now that people like the great legend Romario are openly supporting him), he would end up winning all of the rich south and leaving the poor north to Dilma.

If that occurs, and whether Dilma wins more votes or not, she will have NO MANDATE. The Real will free fall and chaos will ensue. Dilma won't be allowed to preside.

Dilma is already using the elitist card, accusing Aecio, FHC and the PSDP of being snobbish against the poor northerners.

The election will be a nail biter. I wish the Selecao of 14 was as exciting as these elections.

[ForceSteeler]

The Real and Ibovespa is not based on fundamentals, just on the election for now. Wait until after the election and next year it will be above 2.5. The fundamentals with negative GDP and inflation above 6. 5% will keep them in a recession. The Central Bank will also stop their swap buy backs and intervention so there will be no more support for the Real. And the US Fed will increase the interest rate next year also. No surprise if it hist 3. 0 after another downgrade by credit agencies after poor gpd figures and failure to implement economic changes regardless who is president because changes takes years not months.

Also add after the Olympics Price Inflated Hype is over. I would not see if the Real end up being 4. 0:1 per Dollar. All Good for Us Mongers. Out of Every Country I have been Brazil is my #1 Favorite. I want to sample Bunda on a Budget.

[Hobbying]

The Real and Ibovespa is not based on fundamentals, just on the election for now. Wait until after the election and next year it will be above 2.5. The fundamentals with negative GDP and inflation above 6. 5% will keep them in a recession. The Central Bank will also stop their swap buy backs and intervention so there will be no more support for the Real. And the US Fed will increase the interest rate next year also. No surprise if it hist 3. 0 after another downgrade by credit agencies after poor gpd figures and failure to implement economic changes regardless who is president because changes takes years not months.

[Rahsta]

It won't get that high until after the election. The 2nd runoff is October 26.

I Hope Rousseff Wins. All the investors hate her, So if she wins you the Brazil Real will hit 3:00 to 1. If The Opponent Cunha Wins (Pro Business / Capitalist). Look for the real to get stronger, Will be under 2:00 for at least 2015.

I have my fingers crossed, I will be in Brazil November, So I hope it hits 3:00.

I will be in Rio on the Oct 30, but in Manuas on Oct 27. Lets see what happens.

[ForceSteeler]

I hope it gets that high by next week, but I doubted it. Its at 2. 42 now.

It won't get that high until after the election. The 2nd runoff is October 26.

I Hope Rousseff Wins. All the investors hate her, So if she wins you the Brazil Real will hit 3:00 to 1. If The Opponent Cunha Wins (Pro Business / Capitalist). Look for the real to get stronger, Will be under 2:00 for at least 2015.

I have my fingers crossed, I will be in Brazil November, So I hope it hits 3:00.

[Rahsta]

2. 65 least Friday.

I hope it gets that high by next week, but I doubted it. Its at 2. 42 now.

[AltoBomGosto]

The Real is looking good just passed 2:50 per 1 Dollar.

2. 65 least Friday.

[AltoBomGosto]

Stick with Citibank ATM, it is the friendliest ATM in Rio for american. Up to 400 US dollar a day which is my credit union limit allowed. HSBC is unpredictable.

CitiBank has atm in avenida nossa senora in copa. Around number 500. Also in Centro.

In Sao Paulo Banco do Brasil on Avenida Paulista and Rua Augusta BRL 800 day.

Bradesco also is american friendly. There is an exchange office on Rua Haddock Lobo near to Avenida Paulista. Also ATM there.

[ForceSteeler]

The Real is looking good just passed 2:50 per 1 Dollar.

[Hobbying]

I can only state here what I reported in other thread too.

Locals told me that at night withdrawals are limited as far as amount you can get.

As a matter of fact a couple of times I went to ATM at night I was able to withdraw BRL 300 only.

For me it depended on the atm and on weekends late night. Bradesco only 800 per day. HSBC and Banco do Brasil are 1000 max per day and I withdrawal at both on same day no problem and no fee unlike Citi or Banco 24 horas.

I had my cloned so I try to only use atm within a bank and cover up when entering pin.

[RockTimes]

I can only state here what I reported in other thread too.
Locals told me that at night withdrawals are limited as far as amount you can get.
As a matter of fact a couple of times I went to ATM at night I was able to withdraw BRL 300 only.

Stick with Citibank ATM, it is the friendliest ATM in Rio for american. Up to 400 US dollar a day which is my credit union limit allowed. HSBC is unpredictable.

CitiBank has atm in avenida nossa senora in copa. Around number 500. Also in Centro.

[Albert Punter]

I can only state here what I reported in other thread too.
Locals told me that at night withdrawals are limited as far as amount you can get.
As a matter of fact a couple of times I went to ATM at night I was able to withdraw BRL 300 only.