Value of real rises ‘amid speculation’
Current speculation that government’s across the world will continue to take measures to increase economic growth spells good news for Brazil as an exporting country.
Brazilian property investors may be interested to learn that the value of the country’s currency has risen the most in more than a week, Bloomberg reports.
Reginaldo Galhardo, currency-trading manager at Treviso Corretora de Cambio in Sao Paulo, told the news provider: "Brazil hasn’t lost its positive fundamentals amid the crisis, so investors come to our markets when there’s good news abroad."
A weekly central bank survey of around 100 financial institutions found economists predict Brazil’s real will recover next year, after it lost 24 per cent of its value in 2008.
The picture has not been entirely negative however, as the real rose to a nine-year peak against the dollar in August.
Brazilian president Luiz Inacio Lula da Silva said this week that the government will announce measures to combat the global financial crisis by January 20th.
