Sun, Dec 21, 2014
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Currencies more

Brazil Tax Change Could Boost Sinking Currency

Posted on 05 June 2014

The Brazilian government on Wednesday took steps that could shore up its sinking currency, in a move possibly aimed at controlling inflationary pressures. Brazil’s Finance Ministry reduced the reach of its 6% IOF financial-transactions tax in a bid designed to encourage local firms to obtain financing abroad. The IOF now applies only to international loans and bonds with maturities of 180 days or less, down from 360 days.
Analysts say the measure will give companies, particularly smaller ones, greater ability to raise cash abroad. In bringing foreign currency into the country, they’ll create more demand for Brazilian reais………………………………………..Full Article: Source


 Article link

This post was written by:

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


Contact the author

Comments are closed.

banner
banner
December 2014
S M T W T F S
« Nov    
 123456
78910111213
14151617181920
21222324252627
28293031