• Categories
  • Archives

Despite Record High Real Brazil Strides to New Record Foreign Trade Year

Brazil’s Real has little changed from its near three-year high on expectations of rising commodity prices and demand from abroad, which will help South America’s largest economy produce a record trade surplus.

Brazil’s trade surplus in the year to date is more than a third higher than last year’s record total on increased demand for commodities such as sugar, iron ore, soybeans and coffee from expanding economies such as China.


Investors such as Flavio Farah now expect Brazil to post a third straight trade surplus, increasing receipts from abroad while the combination of deflation and interest rates at a 21-month high add to capital inflows to strengthen the Brazilian currency.


“We are working with a new peak in the appreciation of the real in the short-term,” said Farah, Treasury desk chief at WestLB in Sao Paulo, in an interview.


The real was little changed at 2.3397 per dollar from 2.3405 late Monday, boosting its 2005 gain to 14%, the best performance against the dollar of the 16 major currencies. Earlier, it rose as much as 0.6% to 2.3265, matching its strongest level of April 23, 2002.


The yield on Brazil’s benchmark bond that matures in 2040, the most-traded emerging market security, fell for a fourth day in five to 9.18%, lower by 5 basis points, or 0.05%, from 9.23% Monday according to JPMorgan Chase & Co. The price rose 0.65% on the dollar to 118.95.


This article appeared originally in Mercopress – www.mercopress.com.

Tags:

  • Show Comments (1)

  • metin2 yang

    wow
    you are good

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil Petrobras’s New Record: 1.7 Million Barrels a Day

Petrobras – Brazilian Petroleum S.A. – broke its old daily production record of 1.596 ...

Now, Brazil Wants Zero Deforestation

Brazil’s Minister of Environment, Marina Silva, reports that the government is studying the establishment ...

Brazil Supreme Rules that Civil Servant’s Salaries May Be Shown in Internet

Brazil's Supreme Court held on July 8 that the mayor of the municipality of ...

Brazil’s Lula Confesses: I Have No Sins

Brazilian President Luiz Inácio Lula da Silva said Friday, April 8, in an interview ...

Brazil Urges Prompt Compensation and Return of Brazilian Killed by British Police

The Brazilian Bar Association released a note condemning the assassination of the Brazilian citizen, ...

Amnesty Calls for and End to Brazil’s Big Skull Military Van

Police officers in Rio de Janeiro must stop using military-style armored vehicles to indiscriminately ...

Samba in the Kitchen

She has charmed the President of Brazil and Michael Jackson with her cooking. Hollywood ...

A Brazil-Syria Trading Bridge

Global Guiders, a trading company from the southeastern Brazilian state of Rio de Janeiro, ...

Earth’s Most Threatened Tribe as Seen by Sebastião Salgado in Vanity Fair

World-famous Brazilian photographer Sebastião Salgado and Vanity Fair magazine have joined forces to publicize ...

Maracatu New York on Brooklyn street parade

Religion and Dance, Brazil’s Maracatu Takes On New York

In 2000, Scott Kettner, 29, a music graduate from New School University, moved to ...