Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.956

+6.7%

Nov 24 3:59 PM EST

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To: David Petty who wrote (11623)	1/14/1999 12:53:00 AM
From: Steve Fancy	Read Replies (1) of 22640

Brazil finmin Malan says real not too over-valued Reuters, Wednesday, January 13, 1999 at 17:18 NEW YORK, Jan 13 (Reuters) - Brazil Finance Minister Pedro Malan said on Wednesday he did not believe the real was as highly over-valued as some market participants said it was. "The intention was not to have a big devaluation to compensate a perceived over-valuation of the currency," Malan said after Brazil devalued the real by 9 percent. Instead, the government hopes that a wider currency band will eventually lower interest rates even though rates may trend higher in the short term, Malan said. "A wider fluctuation will allow you to defend the band with lower interest rates," Malan said. Speaking on Reuters Television, Malan said "we don't buy this idea that there is over-valuation of 25 percent, which we have sometimes seen in the market place. We are talking about single-digits at most." Copyright 1999, Reuters News Service

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