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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (44358)	1/6/2004 7:10:48 PM
From: elmatador	Respond to of 74559

Jay, Real will not be allowed to appreciate beyond R$2.80. Treasury already bought in advance USD1.5bi last year as part of the amount to honor the foreign debt (a total of USD5.5bi in 2004). Treasury will support the dollar buying up USD115mi a day to keep USD at R$2.80 to avoid hurting exporters until it gets the remaning USD4.0bi to complete the USDUSD5.5 due this year. Anyway it is not bad -at this specific time- to owe USD, it is being printed 'con gusto' and there is a lot of it going around! We need more capital flying off the economies that have lots of it but no economic activities into the economies that lack capital but have lots of it.