Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 1.030

-2.8%

3:59 PM EST

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To: steve kammerer who wrote (12292)	1/23/1999 10:09:00 AM
From: David Petty	Read Replies (1) of 22640

Steve K., Howdy! (As far as I can tell, 32% decline not 50%) You stated that "1 Real in July was worth $1.17" No, 1.17 Real was worth $1.00 US Around July 20th 1 real was worth $0.8618 US$ (1.16 Real=1.0 Dollar) Yesterday 1 real was worth $0.588 US$ (1.70 Real=1.0 Dollar) That would be approx 32% decline .588/.8618 (.682) The quote on the Bovespa yesterday was RCTB40 @112.00 Reals 112/1.70=65.88 versus July rate 112/1.16=96.55 65.88/96.55=.682

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