Real vs Dollar and other currency issues

[JohnnyBraz]

I would like to move some money to a country outside of the US where a US citizen can easily open a brokerage account. I would like to have my eggs in some non USD baskets. I have read that Singapore is hard to get an account, but Honk Kong is easy. I am thinking of Boom securites in Hong Kong. Does anyone know of other places or have some good or bad feedback about Hong Kong and/or Boom securities? I though about Panama but they use the US Dollar.

try uraguay, only passport needed, you will have an account / mastro keycard with in the hour. You can have an account in us dollars or euros there 2. Max 10000 us deposit by cash. Singapore is quite easy to open an account, you would require a letter from your own bank in the states, passport, employment details etc.

[Exec Talent]

Both the DOW and BOVESPA are up today. Dollar has gained almost 1% against the Euro but is down against the Real to 1.71. Add that to a Nobel Prize-winning economist planning to sell some of his investments in Brazil and who knows what the hell is going on.

http://www.chinapost.com.tw/business...st-Krugman.htm

Update: It looks like it was just someone needing to make money. Things are back to normal at COB: DOW virtually flat, BOVESPA down 1% and Real @ 1.73. Euro @ 1.485. All better.

[Simpleminded]

I would like to move some money to a country outside of the US where a US citizen can easily open a brokerage account. I would like to have my eggs in some non USD baskets. I have read that Singapore is hard to get an account, but Honk Kong is easy. I am thinking of Boom securites in Hong Kong. Does anyone know of other places or have some good or bad feedback about Hong Kong and/or Boom securities? I though about Panama but they use the US Dollar.

[JohnnyBraz]

On Wednesday (25-Nov) when XE.comquoted 1. 73, I was able to get 1. 77 at a cambio on NS Copacabana.

if you are changing over 5 thousand us, look around and if the rate is 1. 73. You should have no problem getting 1. 80. Try the jewelery shop around the corner from meia pataca. But they are only good for larger amounts.

[Azn Safado]

Can you tell me what is a typical exchange rate at the cambios right now? How much above the official rate? ( Today official rate is R1.75 O Globo says)

thanks

On Wednesday (25-Nov) when XE.com quoted 1.73, I was able to get 1.77 at a cambio on NS Copacabana.

[Papi Muy Rico]

Many of you come for the Thanksgiving holiday. Be sure to bring dollars. The cambios are offering an exchange rate well above that of the ATMs especially when considering all the fees banks are laying on these days.

If you are going to use a Bank Card, the best probably is Capital One.

Can you tell me what is a typical exchange rate at the cambios right now? How much above the official rate? ( Today official rate is R1.75 O Globo says)

thanks

[Hughdad]

Article from Brazzilmag

Yeah, same fear being discussed in the US now. They are after the Fed because there is a fear that the low interest rates are creating a speculative bubble. They keep propping up the economy and a certain segment is back to the same practices that led to the original meltdown.

[Poucolouco]

Financial Times: Published: November 25 2009 21:13
John Deere, the world’s biggest maker of agricultural equipment, sounded an alarm bell over the strength of the Brazilian currency on Wednesday, saying it had seen a sharp spike in loan defaults by Brazilian farmers and halving its forecast for farming income in the country for the coming year.

http://www.ft.com/cms/s/0/19d14e20-d...44feabdc0.html

[Houston Player]

In my experience Sao Paulo is different than Rio. I always get better rates from the ATM than I do at cambios in Sao Paulo. I always bring cash also just in case I need it.

[Monger X]

Many of you come for the Thanksgiving holiday. Be sure to bring dollars. The cambios are offering an exchange rate well above that of the ATMs especially when considering all the fees banks are laying on these days.
If you are going to use a Bank Card, the best probably is Capital One.

Hi Exec
I will be arriving in Sampa at the end of next week. I was wondering about exactly what you referred to. When I travel to Mexico the exchange rate is usually better at the bank ATM than at the cambios. I presume your advice will still apply when I arrive. Just curious- the exchange rate today is 1.73250. Is that close to the actual at the cambios?
Appreciate your help!

[Jan 156]

For those of you who might enjoy such analyses, there's a fourteen page special supplement in today's Economist magazine/newspaper on Brasil (front cover story). It's a special report on business and finance in Brazil.

[JohnnyBraz]

Article from Brazzilmag

It's Up to Investors to Avoid Bubble in Bullish Brazilian Market

Written by Newsroom

Thursday, 05 November 2009

In an interview in London with Bloomberg Television, Brazil's Central Bank president admitted that foreign investors might create an asset bubble in Brazil. "In terms of asset bubbles, stock market etcetera, I think that might happen, but evidently it's up to investors not to get too exuberant," Meirelles said.

Anyhow Meirelles said it's unlikely the country will experience "the most dangerous" form of bubble - a credit-driven one. "We have very strong prudential regulations in Brazil and I don't think that's going to happen."

Brazilian Finance Minister Guido Mantega last month imposed a 2% tax on foreign purchases of equities and fixed income securities in a bid to fend off speculators. Brazil's currency and Brazilian stocks have had world-beating rallies this year.

The Bovespa Stock Index has gained almost 130% in dollar terms this year, including a 2% climb Wednesday to 63,910.51. The Real has gained 35% this year and strengthened 1.4% Wednesday trading at 1.7207 per dollar, its highest in 14 months.

Meanwhile Brazil's top economic policy adviser, Nelson Barbosa told reporters in New York the Real needs to weaken as much as 19% against the dollar for sustainable economic growth.

A "neutral currency" exchange rate of 2.10 to 2.13 per US dollar would be best for growth, Secretary of Economic Policy Barbosa told reporters at an event in New York organized by the Brazilian-American Chamber of Commerce.

Statements from Meirelles and Barbosa, accompany investor concerns Brazil may adopt extra measures to curb the real appreciation.

However he stressed that the real level varies according to commodity prices and is not a target for the government, which remains committed to a floating exchange-rate regime.

[Exec Talent]

Many of you come for the Thanksgiving holiday. Be sure to bring dollars. The cambios are offering an exchange rate well above that of the ATMs especially when considering all the fees banks are laying on these days.

If you are going to use a Bank Card, the best probably is Capital One.

[Hughdad]

Employees should save their twitter fingers. Those CEOs have already retired. On the other hand, shareholders have a right to be concerned over some of the generous formulas used in calculating executive pensions as their share values dived.

http://www.google.com/hostednews/afp...pnNpMbbKBFXJGA

You are seeing more movement on giving shareholders a say on executive compensation. Unfortunately many corporations are not structured to give shareholders enough of a binding vote in these matters. Agree that it is disgusting. How much is enough?

[Poucolouco]

I know some people are offended by me calling things as I see them. Well, this story is truly offensive.

U.S. executive pensions rose in '08 even as stocks fell: report

http://news.yahoo.com/s/nm/20091103/...cutivepensions

My hope is that the employees of those companies are so offended that they insist the CEOs find employment elsewhere. Twitter might be useful after all.

Employees should save their twitter fingers. Those CEOs have already retired. On the other hand, shareholders have a right to be concerned over some of the generous formulas used in calculating executive pensions as their share values dived.

http://www.google.com/hostednews/afp...pnNpMbbKBFXJGA