Today (30 May 2008) the US$ hit 1.628 to the Brazilian Real. The lowest US$ to R$ since January 1999.
I ATMd R$1,000 the day before yesterday (exchange was 1.67) which cost me US$598. I checked my accounts and on 8 May 07 the same R$1,000 cost me US$493.00. If I had withdrawn that money today it would have cost me US$614.00!! Grim. At this rate, I may have to move to Buenos Aires.
The Brazilians have a strong currency now and they are making the most of it. It is estimated 1.8 million Brazilians will visit Europe in 2008. I don’t know what the previous numbers have been, but the media here wouldn’t be playing this up unless it was a big increase over previous years.
Brazilian companies are investing abroad and even buying out companies in the first world.
A lot of Leftest complain about Globalization, but it has helped Brazil a great deal. Click on the link below.
> Ford Motor Company’s Plant in Bahia
Back In The Old Days:
In November 1966, I exchanged US$300 cash in Rio. I took my small travel bag to hold the 900,000+ Novo Cruzeiros I received. I think it was Novo Cruzeiros. Whatever the currency was called at that time, it wasn’t worth much compared to the US$, but it was enough to live on in the interior of Espírito Santo in 1966.
