The exchange rate just keeps getting better & better. In Rio, you really are better off if you use reals as opposed to US dollars. If you try to pay in US dollars, you are going to pay thru the nose for this option. But there are certain things that you need cash/reals for; women from Help/various cafes, small meal bills in cafes, taxis, places that you don't feel comfortable using your credit cards, paying for your apartment (you almost always need cash if you go the apartment route), etc.

The best exchange rate that you will find comes from the currency exchanges (cambios) on the streets & there are tons of them. The best rate that you get is if you exchange cash $US. You get a much lower rate if you try to use travelers checks. So what most people seem to do is bring a fairly large sum of $US in cash, lock it in your hotel safe & carry as little money on you as possible (getting mugged & robbed is a possibility but probably the topic for another thread).

There is a currency exchange that is directly across the street from the TodaeFacil ( Rua Xavier da Silveira, 19 - Copacabana ) Internet cafe that gives a reliably good rate. This is a good place to start off changing your money; if you can find a better rate then take that. Sometimes the currency exchange around the corner on Copacabana gives R$.02 per dollar extra so look around (as you step out of the Xavier da Silveira exchange turn right then a left onto Copacabana & the Copacabana exchange is about 1/2 way down the block on the farside of the street).

When you pay your entrance fee to Help they will allow you to pay in US dollars & they actually give a very competitive exchange rate. But they will only allow you to change US $100.

Using your credit cards is also a great option. All hotels will take your credit cards & you will get the best exchange rate for the month. Almost all termas will accept credit cards as well (some will charge you an extra R$10 to use a credit card over what you would have paid if you had used R$l; Terma Rio Antigo comes to mind). Most nice restraurants also take credit cards.

There also is the money machine option. And you see them all over the place but I think that you pay thru your nose for this option. But this option is available if you run out of money and need to get some cash.

There are a couple of international banks - Bank of Boston & Citibank in Rio. I believe if you have an account at either bank then this are good options to withdrawl/exchange money. If you don't have an account at either of these banks then they charge an enormous surcharge so don't change your money there.

On my last trip to Rio, as I tried to convert my leftover Reals into US dollars at the airport as I left Brazil. The bank at the airport (their exchange seemed reasonable; it was certainly better than I would get when I got back to the US) insisted that I have a receipt to prove that I had intially purchased my reals in Brazil. Needless to say, I had thrown my receipts away so they wouldn't exchange my money. But if you think that you might want to use the exchange at the airport, then save your receipts.

YoungTom
How about bringing a bunch of Reals directly from the US by exchanging cash at local Thomas Cook Exchange?
Also a dumb question, you put your money in the safe in your hotel room, where do you hide the key if chicas spend the night with you?

Over the last few days the dollar has taken a significant dump, loosing over five percent of its' value, in Brazil. Try http://www.estado.com.br for up to date exchange rates. Look at the bottom of the page for Paralelo, the exchange rate that you can expect from a cambio. For the best rates only exchange $100 bills. It pays to shop the cambios as the rate they quote can depend on their minute to minute supply of currency. Please be very careful entering and leaving cambios.

Don't depend entirely on credit cards. American cards are sometimes temporarly suspended after the first transaction from Brazil.

In a pinch go to Banco do Brasil downtown on Rua Senador Dantas, third floor. Tourists have the right to receive their cash advances or money transfers in dollars. Then they can change them at a more favorable rate at a cambio.

On your depature you can pay your airport departure tax with a combination of dollars and reals.

Athos - If you can get an exchange rate at the Thomas Cook exchange that is competitive with the going bank rate (the rate you see on all these currency exchange websites/see the rate at Bacho's link) then go for it. But typically the rate that you can get here in the states really sucks at least compared to what you will get via the cambios in Brazil (slightly less than the bank rate).

Hiding the safe key in your hotel room is a good idea. Finding a good spot can be a problem. You'll need to use your imagination to find the best spot. One of the advantages of staying in an apartment (if there is a safe) is that there are a lot more places that you can hide that key.

Some airplane tickets already have the airport departure tax already included in your ticket price. If you look carefully at your ticket , you should be able to tell.

Bacho - say it ain't so. That exchange rate is only supposed to keep getting better & better for us tourists. The current rate currently is great; I hope that it stays above R$2 per US $1 for a while.

Some travel rules regarding money regardless of what country you're going to:

1. For all credit cards you are taking - call them and let them know you will be travelling, where to, and the dates. If you do this, you will NEVER have your card declined or temporarily stopped by some auto-security programs which might red flag a transaction just because you are X miles away from home.

2. For your Bank/ATM card - there are still a number of ATMs around the world that only take 4-pin number codes. So if your debit card has a greater than 4 digit code, just get it reset once to a 4-digit pin and never worry about it again. No idea about Latin America, but I've run into this in parts of Eastern Europe.

3. Some places give better exchange rates for cash to local currency than for travellers checks. And some places give better exchange rates for travellers checks than cash. Never heard of $100 bills being better than lower denominations, but ok I'm new to Latin America. However, the one place in any country where you are absolutely guaranteed to get equal to or better than the cash rate for travellers checks is your local American Express office. As long as you have AX checks, you'll get the same or better rate than for cash. Admittedly, AX offices are mainly only in large to medium cities, but that's why you carry a balance of cash, AX checks, and credit card.

4. Exchange rate you will get using your credit cards - it is not true that if you use your credit card you will get the "best exchange rate for the month". As long as the transaction is performed via EFT (i.e. swiping your card against a machine), the exchange rate you will get is the established bank rate for the day (or first business day in case of holiday or weekend) that your transaction posts to your account. 99% of the time, that means either that same day or the next. The only thing that will cause a much longer delay is if EFT processing wasn't available and the merchant had to just manually run your card, or even worse, actually mails in the slips rather than having a reader. The good thing about using a credit card is that you will get the maximum exchange rate an individual can possibly get. All official currency exchange rates you look up are considered the bank to bank exchange rates, and not what you should or will actually get walking into a banks, cambio, etc. Depending upon your issuing bank, you may actually even get the official bank rate - Citibank and Chase are two examples.

5. You now have to track the Euro to see the trends or patterns of how the dollar will do against other currencies. The reason lately we've dipped from 2.5 to 2.3 Reals to the dollar is the deflation of the dollar versus the Euro. However, this deflation is relative because we are currently at 0.859 dollars to the Euro, whereas earlier in the year we were as high as 0.92 dollars to the Euro. If we ever get to the point where a 1:1 ratio of dollar to Euro is stablized, the European Commonwealth will have finally realized their wet dream and we as Americans will finally know what it's like to be screwed on exchange rates. We're so used to our all mighty dollar being the most powerful exchange rate stabilizer that we rarely are ever in the position of getting a lower exchange rate relative to someone else's currency. But guess what - once the Euro joins the US dollar and Deutchemark as the anti-inflationary standard bearers for bank rates, there's going to be a lot of happy europeans and saying the same things we've been saying - "hey look, we ought to head to Country X and go to destination Y because the Euro is kicking ass over their". My fear is someday they'll be talking about DisneyLand.

Quester - thanks for the great info.

There are 2 American Express offices in Rio.

1. American Express Foreign Exchange Services
Aeroporto Internacional
Do Rio De Janeiro
21941-900
Telephone -(21) 398-3671

The International Airport is in the middle of nowhere so it probably is only practical to use this office upon arrival in Rio. You'll need to get reals to pay for your taxi so this might be a good place to do that.

2. American Express Foreign Exchange Services
Hotel Copacabana Palace
Av Atlantica, 1702 Store 1
Telephone - (21) 548 2148

The Hotel Copacabana Palace is located on the Leme/Princess Isabella end of Copacabana. This is less than a mile from Hotel Rio Roiss/Help/. This one should be real easy for anyone to get to if you are staying in Copacabana. Atlantica is the avenue that runs along the ocean.

In the future, I think that I'll bring alot more American Express travelers checks (and less cash) & exchange them at the Copa American Express office.

Two more points of advice - AX checks and where to hide your apartment safe key.

1. American Express checks - I'm sure you've all heard or know about keeping your AX checks separate from your AX purchase receipts, and to keep a log of the serial numbers that you've already used. You'll need to supply both when walking into whatever foreign city AX office and report the theft/loss and get new ones. Well, that's the normal safe plan - keep checks in various locations, receipts in another. However, there is one other ultra-secure method that works better if you're going on more than just a couple days to a week trip.

Personally, I just leave my AX receipts at home with a trusted person that has some sort of 24x7 contact number (page/cell, etc). Unless you plan on going to some part of the world where FedEx doesn't deliver, this is in my opinion the only 100% guaranteed way that regardless of what you lose, get mugged for, or basically have go up in flames in some bizarre bar-b-que gone wrong fire, you'll at least have your AX check funds back.

You may even be able to have the person at home walk the receipts into the local AX office and have them confirm it to the foreign AX office, but don't really know if this will work. The ony and only time I've ever had my AX checks stolen/lost, I easily had enough cash/credit cards to tide me over while my brother sent via overnight FedEx my AX check receipts. At worst, you'll have to wait 2nd day overnight for some countries, so carry some cash if only because the "cash is king" motto is so much more true when paraphrased as "US cash is king" in most 2nd/3rd world countries.

2. Safe key - the logic is simple; if your safe isn't a combo type and therefore the contents within it only as secure as whoever physically has the key, then you need to secure your key, not just hide it. You could be in the shower or sleeping after some huge MF that drained you and any idiot can use a key. A good combination lock will usually require more time than your girl-thief will have in a quick snatch and run.

So I carry two things when I travel - always, never leave home without them. One - is a self retracting cable lock unit, just like you see people use to secure their skis or snowboards on racks at ski resorts. Actually, the one I use IS my ski cable lock. It's got a built in 4 digit combo lock that secures the cable. The other is one voltage valet 4-digit lock per luggage zipper. At this point the concept should be clear - use some combination of your zippered luggage, your locks, and the cable lock to secure it.

Yes, locks and cables can be cut. But frankly, if whoever the thief is has this much time, all your stuff is toast anyways.

The following is a post from Redsnake by Ze that elaborates on Bacho's post above:

There are three exchange rates that are published daily in most newspapers in Brazil. The official or commercial rate is normally the worst for selling dollars. The “tourismo” rate is an official rate available to residents of Brazil to purchase a limited number of dollars before traveling outside of Brazil.

Tourists from the USA should expect to receive the best rate, the black market rate, referred to as the parallelo, when selling dollars. The best rates are paid for One Hundred Dollar bills. The parallelo should not have a spread exceeding two percent. Paying with a credit card or travelers check can cost you ten percent or more.

For daily updates on all three rates try:

http://www.estado.com.br


Change your hundred dollar bills at travel agencies that have a sign “Cambio” on them. Of course, be sure that you aren’t follow by thieves when leaving. All hotels will rip you off and banks are always a bad bet. Surprisingly, a good place to sell one or two hundred dollars is at the admissions ticket window at HELP. They will ask you to step inside to avoid doing the transaction out in the open.

By the way, most girls prefer payment in reals. They find changing dollars to be embarrassing. Payment including a few small bills may avoid ridiculous requests for taxi money.

Use your leftover reals to pay airport tax. You can pay part in reals and part in dollars.

OK It isn't so. Once again the Real takes a dump. Expect two hundred fifty or more hay eyes for every for every hundred dollar bill that you exchange at a cambio.

Ok, I read thru the above and I have a few questions and comments. Some were probably answered above, but I didn't get it.

1. Why would $100 bills have a better exchange rate ? I tend to carry $20s as the $100s make some folks nervous.

2. Good idea on calling the credit card company. Thanks.

3. Are there safes in the rooms at the Rio Roiss ?

4. I assume that I can use a debit card at ATMs and the service rate is the same, but at least I avoid the credit card interest charges. My bank is on Cirrus, so access should not be a problem. Any idea on what the service charge would be. I seldom use these things and actually am just having the debit card delivered now for this trip and a future to Colombia.

5. Where do you guys get you first Reals upon entering the country ? At a cambio near the hotel ? Do airport taxis take dollars ?

6. How much is the exit tax ?

TIA

Everybody's experiences, preferences and tolerances vary, but I will give my take on your questions.

(1) I have not noticed any exchange rate difference between $100s and $20s. Do not worry about people being nervous about your $100s in Rio, and of course $100s are less bulky to carry.

(2) I use the credit card for the hotel and pay cash the rest of the way. Termas and restaurants take credit cards, but I have heard stories about fraud. I do not know if the stories are really true, but I do not want to take a chance. Moreover, I have heard that fraud connected with debit cards is not covered (maybe, not at all) as well as fraudulent credit card charges.

(3) I have never stayed at the Rio Roiss, but the hotel I use has a safe bolted to the closet. It is very safe (no pun intended), but I wonder what the hassle would be if I lose the key. The hotel charges me 2R a day -- no big deal to me.

(4) I do not know about debit cards, but I use an ATM card to get Reals. I do not use cambios. I have used the black market guys at the airport on occassion. I mostly use the ATMs. I land with Rio with 100-200R (leftovers from a previous trip) and less than $100. After checking into the hotel, I head for the ATM. I only want to carry a day's worth of cash with me, and I leave the ATM card, credit cards, passport (carry a photocopy of your passport picture page and Brazilian visa) and any other cash in the safe. Iam not going to worry about the 1-2% more that a cambio or black market guy could have saved me versus the ATM -- but that's me. With the ATM card you get the commercial rate and my service charge is about 1%. With the exchange rate the way it is, it is not even noticeable.

(5) I have never looked for an ATM at the GIG airport, but there probably is one there. Moreover, there are always black market guys outside of the customs area exit who can exchange dollars. I do not use taxis, so I can't comment on that one. I use Bobby's (www.blameitonrio4travel.com) driver, Arnold. He speaks excellent English, is very knowledgeable about mongering in Rio, can take you to tourist sites, termas or whatever you want, and, most importantly, unlike most Cariocas, he is PROMPT. Tip well, for he is worth it. He takes Reals and dollars. He can also take you back to the airport with a stop at a termas along the way -- great for a Sunday detour at Solarium. You can also leave your bags at Monte Carlo (closed on Sunday), and they will arrange for a taxi to take you to the airport, as well. Someone reported that a part of the freeway from the airport to central Rio and the beaches collapsed. Expect a detour and a terrible traffic jam (how bad depends upon your arrival time) in getting to Copacabana.

(6) Most American airplane tickets already include the disembarkation tax. If your taxes are in the $70 range, it is already paid -- it might even be itemized.

BTW, I have never been mugged (knock on wood), but I do not walk near Help at 3AM by myself either.

Gitano,
I agree with Bobobebe that I've never seen any difference between exchanging 100's or 20's.

I have used debit cards at the ATM's- not all have Cirrus,so make sure to check, but I do not like the fees my bank charges, -$2.00 per transaction,plus the lower exchange rate.
Never use an ATM at night, very unsafe. There is an ATM inside of Blockbuster video in Copacabana, I forgot the address, but any hotel Concierge will know where it is.

If I don't have any left over Reais when I arrive, I will usually buy from the guys wearing the Tan/Brown shirts at the airport, but only a small amount,like $100 or less. Always know the exchange rate and have a little pocket calculator if you deal with these guys. I've never had a problem with them. Just exchange enough for your taxi and maybe a snack, until you can get to a cambio or ATM. - The cambios at the airport are a rip off and will give a very bad rate.

I've used credit cards at Termas Centaurus on 3 occasions, no problems.

I've always had to pay a departure tax, unlike Bobobebe. I think it was $45.00 if I remember correctly, you can pay in reais or dollars or a combination of both.

I have been in Rio 4 times this year. My experience is to exchange at American Express at GIG. I do not trust street guys on the street. I have never have a problem with any taxi driver in Rio. Maybe my luck will run out some day, but so far street taxis have not been a problem.

In Ipanema, just go to a Citibank branch. You will not have any problems with atms there. Very few banks that will let you can use your atm card at. Because ATM cards come straight out of your bank account, I suggest getting cash advances on credit cards. I know that there is a charge, but you can argue about credit card transactions. Arguing with the bank about an atm withdrawal is much harder.

Chau

Gitano,

There are safes in the rooms at the Rio Roiss. American includes the exit tax in your ticket price.
Don't worry about cab money when we arrive in Rio; I'll get some in Miami (cuz when we hit the ground in Rio we want to be running).
If you feel more comfortable carrying travelers checks than large amounts of cash, there is an American Express in Copacabano that is not far from the Rio Roiss. Bring enough cash for the weekend as American Express probably won't be open until Monday.

YT

For doing absolutely nothing, most credit card companies are now charging a 2% foreign exchange service charge on all foreign exchange transactions -- purchases and cash advances. This 2% fee is in addition to the $2-3 fee and interest charges that accrue once the cash advance is made. Call your credit card company and ask about the 2% foreign exchange service charge. Of the biggies, MBNA does not charge this fee. Consequently, when purchasing anything abroad, use the credit card that does not charge the fee.

The cambios are opened mon thru sat.
The best exchange rate is available at the Help disco or at the restaurant by the terrace in front of Help. Order a 2R drink and pay with $100 bill, or buy Help entrance 18R with $100.

The best method is to use the bank card at the banks itself. Major European and American banks have presence in the city. I noticed even HSBC there. My bank does not charge any fee and I get the best rates possible. I'm sure all major banks give their customers a good exchange rate at the local ATM machine.

Some observations regarding money on my recent trip.
I've just been checking my credit card receipts against the statements
and I'm happy to report I found no fraudulent charges. Some pretty
amusing business names came up for charges made at termas and love
motels.
Best exchange rate: the storefront cambios in Rio
Worst rate: American Express traveller's checks, cashed at Amex office
I arrived in November 2001 when the rate was just coming off a high of
2.70R:US$1. I think it was 2.60:1 when I got there. I was getting this
rate for my TC's at Amex as well as for cash at the cambios. Before
leaving Rio for the sticks I cashed about US $1,000 in TC's. It lasted
me about a month. In the tourist town where I was staying, the rate was
about 2.35:1 at the storefront cambios. The lowest rate I saw posted
was 2.30:1 about a week before Xmas. I pulled money out of my Visa
account via a Bradesco ATM and the rate on 12/31/2001 (according to my
statement) was app. 2.29:1. A few weeks later it was up 2.35:1, but
the Rio cambios were giving 2.45:1. Amex was offering 2.25:1 for
traveller's checks! As I understand it, the cambios in Rio never went
below 2.45:1 during this whole period. I got back to Rio January 3rd and
the sign in the window at Help said 2.50:1 but they told me they were
not making change; a few days later it said 2.45:1. Was Help really
giving 2.50:1 during Reveillon, can anyone report?
It appears that the most risky way carry money, cash, is also the most
rewarding in terms of exchange. Another temptation to deal with.
A note about ATM cards vs. credit card cash advances: I've been told
that if you lose your ATM card and they somehow get past the need for a
PIN number that you have absolutely no protection, whereas you can get
your credit card account shut down if the card leaves your possession.
Can anyone confirm or deny this?

Bendejo - I think your statement regarding who covers the loss on ATM cards vs. credit card cash advances is correct.

Youngtom, Did you cach any travelers checks at the AMEX office? If so , what`s the rate and how does it compare to cash at the cambios or help? Thanks for your help, only 8 more days till takeoff!!!!

Fooledagain1 - no, I just brought a ton of cash. I hear the rates at Amex office are okay but not quite as good as cambios or help. Help gives the best rate in town. If you bring traveler checks, be sure and get enough cashed (ie enough until your next visit to AMEX office) while at AMEX office as most places will not take them.

Another Amex note: the line to get to the cashier's window at the Copa Amex office can be quite a wait, sometimes an hour. As far as the rate goes, I know I sure felt like a chump when the TC rate was 2.25:1 while the cambios were offering 2.45:1 for cash.

Travelers Cheque rates suck!!! not only do they screw you on the exchange rate but you have to pay for the checks as well.
The ATM rate is not as good as the cash rate also.
ex:
Cash rate 2.4
ATM rate 2.34
Trav. Chk. 2.25

Here are the rates i recieved for trip --feb. 25 to march 20 HELP-- 2.42 then droped to 2.4 CAMBIO-- varied from 2.4 to 2.35 CITIBANK ATM -- 2.36 but not sure if i paid a fee for using atm, which wold of lowered the rate AMERICAN EXPRESS OFFICE -- 2.29 then droped to 2.28 Your best deal is to pay your entry to Help in US$, I usually paid entry with $100 bill and got change back in Reais, did this almost every time i went to club. Don`t wait in the line at ticket window just go in and turn left , go to the counter. The cambio`s all offer different rates, the lowest offered 2.35 and i walked out. Went down a few steps and another offered 2.38 and i said what the hell i will try to get a better deal, so i said the cambio at the other end of Copa gave me 2.4 and he said how much are you cashing, i said $200, he said OK you got 2.4. At that time Help was also 2.4. I did find one cambio that cashed AMEX traveler checks at a higher rate then the AMEX office, 2.3 while the office was 2.28, the big difference with using the cambio was no waiting in line, 5 minutes in and out the door. Here`s the address if anyone is interested--Rua Siqueira Campos, 7 Loja- Copa , it is just off of Ave Atlantico on the left

Forgot to mention the CITIBANK ATM i used was in a Blockbuster video store. If you are walking from Help, take the first left after the Marriot and go to Copacabanna ave., it`s right on the corner.

You could withdrawl up to 1000R per day. I would always withdrawl the max amout because you only pay the fees once instead of 2 or 3 times if you withdrawl a smaller amount. Not sure what the fees are, i think my bank in US charges $5 per transaction for international withdrawl, any the CITIBANK ATM charges a fee also but not sure how much.

Are you sure its only R1000 per day? Since Citi USA allows account holders in the US to draw up to US$1000 per day and I've taken out the local currency equivalent of it in several different countries, but never had to do it in Brazil. They also don't charge a ATM fee if you are an account holder and use their machines.

For example, in Mexico, their ATM's have a max of P$3000 (about US$300) per withdrawl. But I've taken out P$9000 from their machines just by doing 3 withdrawls in a row from my Citi account.

However, I do notice that their exchange rate is a little bit worse than others. I think they take 1%. But overall, its not bad.

Tequila-- 1000R was the max per transaction, i never tried 2 transactions in a row so maybe possible. A local guy (Pedro) whom i rented a apartment from showed me the ATM, i had to pay him up front more than 1000R so he said to come back the next day. I have a pretty strong feeling that he would know how much you can withdrawl in 1 day.

I always use the CitiBank ATM in BlockBuster and I always do 2 transactions of 1000reais each... never tried more than that.

2.67 as of ysterday 6/10

Just back from Rio and the Reals is down to $R3.05 vs. the US dollar. (that was what I received at citibank)

Help is giving $R3.20 to the US dollar and Euro.
So good for the US and bad for the Euro dollar.
I guess Help is tired of doing the math and gave out a balance rate.
So who ever is in Rio right now, go to Help to exchange and you'll also save from the hidden ATM charges, not by your bank maybe, but citibank...

CN

Good Job Ceenotes, thats great information for the board!! One question, does Help still only change 100 bucks per night for each person?

If so what if you try to change $100 going in and $100 on the way out. At least you should have enough to cover you for the night.

At Help, you can change your USD anytime while open. It's all subject to their Reais on hand. Change a c-note upon entering, an hour or two later, and when you leave? They want your USD. Just not 300 USD or more at one time.

Also, it help's to be polite:
Por favor and obrigado, goes a long way with a smile!

are you guys saying that Help gives a better exchange rate than the cambios, even than citibank? Anyone compared Help and Citibank recently, on the same day?

I have a little cash I need to change sometimes.

Just last week at Citibank, my rate was $R3.05 to 1 USD. (Todays current rate, $R2.99 to 1 USD)
For right now, until citibank gives over $R3.25 I suggest you go to Help.

CN

Brz.sp, in the past Help has alway's had a better rate than the cambios or atm's. I've alway's doubled check with the resident mongers of the previous night's exchange rate at Help. And sometime's Help doesn't have a better rate!

Got to shop around, just like you do when you P4P!

On April 7th Citibank was giving about 3.15 and Help was giving 3.20

Back in Feb. Citibank was giving 3.60 and Help was 3.10. Always double check, don't assune that Help will have a good rate.

I didnt say use or depend on Help for money exchange, most likely it's the best bet for right now on the US dollar.
Another thing, I recieved a rate of R3.20 last week at citbank but when I divided the dollar amount into Real's when I checked my bank online my rate was R3.15
I guess citbank has to get there cut also.
(BTW,my bank doesn't charge me any fees)

CN

about 2.85 right now

there may be good times in the future for visitors to brasil.

bank of america, reuters and bloomberg estimates project the real (as of last week) to be at 3.04 in one year, see here:

http://www.bankofamerica.com.hk/js/downloadpdf/050527.pdf

look at pg. 22

this is updated weekly.

lets just hope these projections are realized and prices don't rise in the meanwhile.

Now was this estimate before or after the Dutch election results and their effect on the Euro? That Dutch rejection of the Euro constitution sent the Euro currency to new yearly lows against a lot of currencies. Wonder if it effects dollar/real.

What was this forecast based on? Trade balances with the US, decrease in the number of bonds sold to the US, lower inflation and interest rates for Brazil? From what I've heard, short term loans are around 19% for Brazil and they have been selling vast amounts of bonds to the U.S. which obviously has an effect on the exchange rate.

I do hope the rate gets better, otherwise it may affect my travel plans.

gr8tr, when are you planning to go to Rio again?

(Message edited by jaspersmack on June 02, 2005)

most forecasts point to rates increasing within one year, although not all are as projecting a rise as high as 3.04 or so.

i will be back sometime in the next two months for two weeks. just got back from a month outside the country so i need to relax for a while

The exchange rate is always cause for internal struggle. It, of course, is great when the Real is weak against the Dollar because that means prices are low when I am in Brazil.

However, as one who does business with Brazilian companies a strong Real can have a very positive affect. When the Real is strong it becomes more affordable for Brazillians to do business with my company, thus the chances of business trips increases.

Quite a moral dilemma this is. I shall ponder it while in Bangkok starting next Friday

Your experience in Bangkok may solve that particular moral dilemma by making it moot--you'll be pondering the dilemma posed by the strength of the Thai baht.

Thai Baht has weakened considerably to the dollar over the last few weeks. When I exchanged money in BKK two weeks ago I was getting 40.09:1. That's pretty darn good for the Baht these days.

E

That's good news Epi, when I left in December it was in the high 38s.

Maybe a little upswing or adjustment from over reaction but I got R$2.44 at the ATM yesterday and R$2.50 at my cambio