Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (8585)	9/28/1998 4:15:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's forex markets seen losing $500 mln Monday Reuters, Monday, September 28, 1998 at 14:43 SAO PAULO, Sept 28 (Reuters) - Brazil was seen losing another $500 million through foreign exchange markets on Monday, traders said, after a hike in interest rates slowed dollar flight but failed to stop it altogether. On Friday, some $431 million left Brazil, bringing the total dollar loss since the beginning of August to almost $30 billion. After the Central Bank hiked interest rates to almost 50 percent, capital flight fell back from a daily average $1.5 billion to about $500 million. Reserves had already fallen sharply, however, to less than $50 billion from about $70 billion. Copyright 1998, Reuters News Service