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Wasn’t a weaker currency supposed to help Brazil?

Posted on 04 June 2013

When the Brazilian real was strengthening like gangbusters against the dollar, all the way to R$1.55 back in July of 2008, the government both loved it and hated it. They loved it because it meant the world loved Brazil and Brazil, with its nagging (and misplaced) inferiority complex, was mighty proud of its strong currency.
Fast forward to the Lehman Brothers and pending fall out in late 2008-09 and the strong currency became a curse. It became part of the “currency war”, a term made quite popular over the last two years by Brazilian Finance Minister Guido Mantega………………………………………..Full Article: Source


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VRS - who has written 38538 posts on Opalesque Commodities Briefing.


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