October 2, 2008

US Dollar Climbs against Brazilian Real

One of the more pleasant (for foreign missionaries) collateral effects of the current economic crisis is that US investors are cutting way back on foreign investments. This results in a scarcity of dollars which drives the value dollar up (this also works out well for Brazilians who are involved in any way in exportation).

For those of us who have been dealing with a dismal (and artificially depressed) exchange rate, the image below is a welcome sight:

To give you an idea, the last time I made an exchange (just before the current financial crisis hit) the dollar was at 1.68 against the real.

Posted by Andrew on October 2, 2008 6:25 PM.

Comments

Posted by: Jason at October 2, 2008 7:05 PM