Brazil Gives In to Surging Currency

  • Português
  • English
  • Posted on April 8, 2011


    BY JOHN LYONS AND TOM LAURICELLA

    SÃO PAULO

    Brazil appears to be waving the white flag in the currency war.

    After months of tough talk to speculators and other governments driving up the Brazilian real, Finance Minister Guido Mantega seems resigned to the fact that there is little he can do to contain the currency’s meteoric rise.

    The currency climbed through a key barrier of 1.60 per dollar Thursday, a day after Mr. Mantega unveiled the latest in a string of controls designed to slow the real’s climb. It was trading at 1.59 to the dollar late in the day, up more than 40% since late 2008.

    The Wall Street Journal/AC



    Rio Negócios Newsletter

    Cadastre-se e receba mensalmente as principais novidades em seu email

    Quero receber o Newsletter