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: Bob Howarth who wrote (11697)	1/14/1999 2:19:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil Cenbank director Mauch to resign Reuters, Thursday, January 14, 1999 at 14:07 BRASILIA, Jan 14 (Reuters) - Brazilian Central Bank banking supervision director Claudio Mauch said on Thursday he was resigning for personal reasons, denying that his decision was in any way related to President Gustavo Franco's departure. "I have no disagreements with anybody nor with what was done," Mauch said, referring to the move to a more flexible currency trading band Wednesday, which prompted Franco's resignation. Mauch, who was responsible for ensuring the health and restructuring of the banking sector, said he has already discussed his departure with new acting President Francisco Lopes. Hours after taking over for Franco, Lopes announced the Central Bank was scrapping the narrow fluctuation band for the real, and allowing it to trade in the broad band. The real slipped instantly in trading to the weakest point of the band for a devaluation of more than 8 percent. Copyright 1999, Reuters News Service