August 15, 2007

The Real Takes a Dip

Aug. 15 (Bloomberg) -- Brazil's currency weakened past the 2.0-per-dollar level for the first time in three months as losses in global credit markets damped demand for riskier emerging- market assets.The real fell for a second day, losing 0.7 percent to 1.999 per dollar at 9:17 a.m. New York time. Earlier, the real slid to as weak as 2.0140 per dollar, the first time it breached the 2.0- per-dollar level since May 15.``Everyone is waiting to see how deep the crisis really is and how far it will reach, so obviously it's time to stay away from risk,'' said Mario Paiva, a currency strategist in Rio de Janeiro at Liquidez Corretora, Brazil's second-largest foreign exchange brokerage.

Bloomberg.com: Latin America Interesting development in the international exchange--with a big impact on American missionaries in Brazil. Stay tuned...

Tags: brazil, brazilian, real, currency, exchange rate, andrew comings, baptist mid missions

Posted by Andrew on August 15, 2007 11:02 AM.