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 (9683)	11/13/1998 2:52:00 PM
From: Steve Fancy	Respond to of 22640

Brazil forex mkts gain est $150 mln, real stable Reuters, Friday, November 13, 1998 at 14:39 SAO PAULO, Nov 13 (Reuters) - Brazil gained about $150 million through foreign exchange markets Friday, according to traders' preliminary estimates, and the currency closed little changed. The real strengthened 0.04 percent in the commercial forex market to 1.1905 against the dollar while it weakened 0.04 percent in the floating forex market to 1.1980 reais to the dollar. As of 1700 local/1900 gmt a net $145 million had entered the country through the commercial forex market and a net $30 million had left through the floating market. If preliminary estimates are confirmed, Brazil will post a dollar inflow Friday amid a week of moderate outflows. More than $30 billion flowed out of Brazil in August and September when Russia's currency devaluation sparked a wave of capital flight. An interest rate hike followed by fiscal measures and expectations of an international line of credit stemmed the flows. Investor confidence is expected to grow after Friday's announcement of a $41 billion-plus loan to Brazil. In the parallel forex market, the currency was unchanged at 1.248 reais to the dollar. Copyright 1998, Reuters News Service