G
Golfingworld
New Member
The Pound, which has been dropping against virtually everything but is now marginally increasing against the Euro is at $R3.85 today....why?
The Pound, which has been dropping against virtually everything but is now marginally increasing against the Euro is at $R3.85 today....why?
The price outlook for commodities is low at the moment (because demand is predicted to slow) so the currencies of major exporting countries are dropping. The Australian dollar has dropped by a similar amount recently for the same reason.The Pound, which has been dropping against virtually everything but is now marginally increasing against the Euro is at $R3.85 today....why?
The price outlook for commodities is low at the moment (because demand is predicted to slow) so the currencies of major exporting countries are dropping. The Australian dollar has dropped by a similar amount recently for the same reason.
It also doesn't help when western funds are offloading any investments they have in emerging markets and are pulling their money out.
Since Brazil has a tiny credit market in comparison to other countries and the Brazilian banks are cashed up, there are not going to be issues with money supply in Brazil.
If anything the real was due a correction so should give a nice boost to exports from Brazil. For me it means I am sending money into Brazil now that I needn't have sent until December.
Brasil has a hugh credit market.Everybody now buys on credit and interest rates will be going up shortly and more problems looming as all the major banks in Brasil are on strike and have been for the last week including Banco Do Brasil.As you may well understand to queue in a Brasilian bank to pay a bill takes about 2/3 hrs or to see the manager,but with the bank strikes you have to queue at the cash points .
Brazil has a tiny credit market, because of the minute fraction of houses bought by mortgage compared to most other countries. Many Brazilians buy other items on credit, but this debt is very small in comparison to UK or USA individual mortgage debt, for example.
So there is no credit crunch in Brazil then?Debzor,
Most properties in Brasil bought by Brasilians are now through credit,that is why there has been an increase in the property market.The real concern is the hugh taxes imposed on the borrowers which is higher than most countries.The morgage debts are increasing and most properties in the N.E have been bought to flip on short term ,med term basis.When the demand for buying becomes less the problems become apparent and then the repossessions begin.just as is happening in other countries .
Debzor,
Most properties in Brasil bought by Brasilians are now through credit,that is why there has been an increase in the property market.The real concern is the hugh taxes imposed on the borrowers which is higher than most countries.The morgage debts are increasing and most properties in the N.E have been bought to flip on short term ,med term basis.When the demand for buying becomes less the problems become apparent and then the repossessions begin.just as is happening in other countries .
Dotty, do you even know what the credit crisis is?Bovespa has been dropping steadily thorughout the week along with new car sales down 30% this year alone.
Dotty, do you even know what the credit crisis is?