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Brazil`s real hits new low waiting for IMF deal Tuesday July 30, 10:09 AM EDT SAO PAULO, Brazil, July 30 (Reuters) - Brazil`s currency sank to a new low against the U.S. dollar, awaiting concrete signs that the International Monetary Fund would extend the country a new loan deal to buttress its economy. The real weakened by more than 3 percent to 3.305 per dollar, its lowest point ever against the greenback since it went into circulation in 1994. It quickly eased back to 3.290, still 10.5 centavos weaker than where it ended on Monday. Traders said local sentiment was bleak despite news that Brazil was sending a negotiating mission to Washington later Tuesday to continue talks already under way. Brazil`s Central Bank president, Arminio Fraga, has said Brazil would probably seek fresh IMF aid if market turbulence fueled by worries ahead of October`s presidential elections persists. An IMF deal, said Alexandre Vasarhelyi, head currency trader at ING Barings in Sao Paulo, "will help once we have something concrete." The currency has also been under strong pressure this month as companies, unable to roll over their debt abroad, seek dollars to pay it off. ©2002 Reuters Limited. |
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| aus der Diskussion: | Erwischt es jetzt Brasilien und Uruguay?? WICHTIG, EILT |
| Autor (Datum des Eintrages): | manfred1_I (30.07.02 19:57:46) |
| Beitrag: | 6 von 52 (ID:7003598) |
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