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The Real R$ SO STRONG

Discussion in 'Brazil Property' started by nigelallen, Feb 27, 2008.

  1. nigelallen

    nigelallen New Member

    Sorry to start another thread, i cant find the old thread relating to the currency exchange,
    I notice today the Real is R$3.3 to the Pound,
    If you look at the 12 month chart you will see last March the exchange rate was R$4.2 to a pound,
    This trend will surly this will be the nail in the coffin for UK buyers. and a very worrying time for those who are buying off plan.
     
  2. Celt

    Celt New Member

    Yes, it has been strengthening for some time due to higher commodity prices etc. If the trend continues, having assets in Real may be a very good investment even though buying Brazilian assets at present, such as property may cost more in the short term.
     
  3. michaelbush

    michaelbush New Member

    Against the dollar it was 1.67- around the same time last year it was 2.12, a similar percentage drop.
    But to just get the situation into context, these are the rates from 10 years ago!! XEU European Currency Unit (Precursor to EUR) 0.8111397296 1.2328332143
    GBP United Kingdom Pounds 0.5371396896 1.8617131063
    USD United States Dollars 0.8849315068 1.1300309598
    Courtesy of XE.com
    Possibly it can get a lot stronger too?
    I think we have to wait for the government to decide how to handle the situation. They are expected to lower interest rates,(which would help weaken the real) but cannot do this overnight. They worry about creating too much consumer debt. That said it is getting easier for longer term finance for Brasilians to be able to buy homes.
     
  4. RalphJ

    RalphJ New Member



    3.5 years ago the GBP went up as high as 5.75 to 1 vs. the real, the dollar was 3.3 to 1. Last week I received a bank transfer in GBP and received 3.24 to 1!
     
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