Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.740

-1.3%

Dec 8 3:59 PM EST

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To: Steve Fancy who wrote (8611)	9/29/1998 5:15:00 PM
From: Steve Fancy	Read Replies (6) of 22640

Brazil real stable, $500 mln in dollar flight seen Reuters, Tuesday, September 29, 1998 at 17:04 SAO PAULO, Sept 29 (Reuters) - Brazil's currency closed unchanged in foreign exchange markets after the Central Bank was seen intervening to keep the real from weakening on expectations of dollar outflows on Tuesday. Brazil was seen losing another $500 million through its forex markets today, adding to dollar flight that has topped $30 billion since the beginning of August. In a bid to stabilize the real amid continuing dollar outflows, the Central Bank was seen selling dollars via state-owned Banco do Brasil, traders said. Copyright 1998, Reuters News Service

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