Members mvan1 Posted March 21, 2016 Members Posted March 21, 2016 Even though Brazil's economy is in the pits and its political system is in turmoil, the Brazilian real is gaining against the U.S. dollar (and many other currencies). Despite Brazil's high unemployment and increased crime, the local currency is increasing in value. Speaking of crime, for the first time in many trips to Brazil, last night I saw a gang of street hoodlums in the Pineiros area of Sao Paulo, not far from Lagoa sauna. They were walking up to people on the street aggressively pestering them for money. At the present time, there is a large presence of police in uniform in Sao Paulo doing street patrol. The police presence helps to control street crime. It was somewhat amusing to watch the police stand close to and/or follow the hoodlums but not say anything to them while the hoodlums bothered passersby for money. Neither said anything to each other during the short period of time I observed the event. The gang members were dirty and looked out of place in the fairly upscale area. Like I said, I never saw hoodlums in that area before last night. I hope this does not become a trend. Here is a report about the gain of the real against the dollar: http://riotimesonline.com/brazil-news/rio-business/brazils-real-appreciates-to-9-month-high-to-r3-52us1/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TheRioTimes+%28The+Rio+Times%29 - Quote
Members SolaceSoul Posted March 21, 2016 Members Posted March 21, 2016 The gain on the real is artificial. They're trying to prop it up for as long as they can, perhaps until after the Olympics. Brazil's bubble is about to burst and burst big. I'm waiting for the real estate prices to drop like stones. floridarob 1 Quote
floridarob Posted March 23, 2016 Posted March 23, 2016 The gain on the real is artificial. They're trying to prop it up for as long as they can, perhaps until after the Olympics. Brazil's bubble is about to burst and burst big. I'm waiting for the real estate prices to drop like stones. I agree... if you think along the line of the "Big Mac" index or like I do, the cost of a coconut (really)...the current true value of the BRL is 5-1 usd SolaceSoul 1 Quote
Members Cany10011 Posted March 30, 2016 Members Posted March 30, 2016 I just hope the garotos are still cheap.... Quote
Guest lurkerspeaks Posted March 30, 2016 Posted March 30, 2016 Average asking rate is 100reias which is between $25-$30 USD Quote
