Brazil Property News: Brazil's Real 'weakens'




10th September 2008 03:25


The national currency of Brazil has sunk to its lowest level since January, according to new data.

Finance minister Guido Mantenga has announced that the Brazilian Real has weakened by 8.2 per cent over the last month, which may interest people interested in real estate in Brazil.

He also predicted that the currency is set for its steepest monthly decline since 2002.

The Real climbed a total of 17 per cent in 2007 and closed earlier this week at 1.7777 against the US dollar.

Mr Mantenga said the Real will "keep weakening" due to falling commodities which are narrowing "the county's trade surplus and reduce investment".

"We've reached the limit of the Real's appreciation," he declared.

Jose Paim de Andrade, founder of real-estate investment firm Maxcap, has told The Economist the property market in Brazil is set to boom for five to seven years.


Follow uv10 on Twitter   



Related News



News Archive


How to invest in Brazilian property

When it comes to property investment, the early bird really does catch the worm.


uv10's web site is designed to help and will provide you with the following invaluable information:



To find out more about investing, and have the chance to be one of the first to invest in this exciting and dynamic market, fill out our online form and we'll be in touch to answer all your questions.



Brazil property with uv10
Property in Brazil
Land in Brazil
Brazil - property buying made easy
Brazil Property Investment
Why buy now in Brazil
Natal, Brazil
Pipa, Pipa Beach, Praia do Pipa, Brazil
questions and answers about property in brazil
uv10 Brazil Property in the news
Brazil Property News
Contact uv10
About Us
Register for the Brazil Property Guide
Name:
Email:
Phone:
Your message: