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Brazil struggles as its currency goes soft

Posted on 27 August 2013

Two short years ago, Brazil had a terrible problem with its currency – it was far too strong. Local factories, unable to compete with Chinese imports made cheaper by the real’s appreciation, were closing their doors. Fernando Pimentel, the trade minister and a close adviser to President Dilma Rousseff, declared that “Brazil has joined the team of countries with strong currencies” and urged industries to adapt to the new reality.
Now, as global investors shed assets in emerging markets worldwide, Brazil’s problem has abruptly turned upside-down………………………………………..Full Article: Source


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VRS - who has written 39433 posts on Opalesque Commodities Briefing.


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