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

To: Steve Fancy who wrote (11946)	1/18/1999 2:42:00 PM
From: Tony van Werkhooven	Read Replies (12) \| Respond to of 22640

Steve- Your comment: <The drop in the real seems over done at approx 22% since this fiasco started. Any comments on this or the mornings news? Sometimes I feel I'm on a ghost thread, despite the heavy readership I know goes on behind the scenes.> Whether the drop is overdone is not clear as yet. A lot will depend on the votes this week. Based on what happenbed on SE Asia however, it would be reasonable to assume that the exchange rate will overshoot for a time untill things settle. Then slowly work back to an equilibrium. However, don't expect this to happen in a week- it will take longer to rebuild confidence and get a handle on the aggregate impact, Tony