Brazil real weakening against dollar ‘could make property in Brazil cheaper’
Those looking at property in Brazil could be interested to know the country’s currency has weakened against the US dollar.
At opening, the dollar was worth 2.269 real (£0.70) on the Brazilian Mercantile and Futures Exchange, Dow Jones asserts.
When it closed on Friday, this was worth 2.264 real, which the news provider claims is due to Japan’s poor fourth-quarter growth.
In addition, it reports that analysts are claiming the failure of the G7 to come to any conclusions regarding currency have exacerbated the problems, which could increase the value of foreign investment in property in Brazil.
The source states a recent poll has predicted that the real will fall to 2.30 dollars before the end of the year, which could be good news to those looking to buy a home in the country.
In other news which may interest those looking at property in Brazil, economists announced they expect interest rates in the country to be cut by a full percentage points by March 11th.
