Switzerland's largest bank Credit Suisse has predicted the Brazilian economy will grow 5% in 2010, as the nation emerges from recession. This is a revised estimate from the 4% predicted earlier and Credit Suisse also predicts that Brazilian GDP will grow by 1% this year. Brazilian growth is driving the Latin American boom as high domestic demand is helping to lift the country out of recession. Brazilian exchange rates have rallied significantly in recent weeks as confidence in the global economy improves.
Elsewhere in South America, Argentina is due to deliver the 2010 budget with former finance secretary, Daniel Marx warning that high public spending could lead to a deterioration of public finances and hinder economic recovery. Argentina is currently heading for its largest budget deficit since 2002. The deficit reached 570 million pesos in July, compared with a 3.2 billion surplus one year ago.
Exchange rates for the Brazilian real and Argentine peso are currently at 0.5501 and 0.2549 respectively per US dollar.
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.
Please note: All rates are subject to change, for the latest up-to-date rates check our Currency converter
Contact Us
Currency Converter
Today's Currency News
Leaders at the G8 summit over the weekend indicated their desire for Greece to remain in the Euro...
Currency Rates
| US Dollars | 1.5801 |
| Euros | 1.2366 |
| Swiss Francs | 1.4854 |
| Australian Dollars | 1.6009 |
| South African Rand | 13.056 |
| GBP indicative mid-market rate at 19:40. Please call for quote. | |
Currency Solutions Ltd is registered in England, Company No. 4864491.
© 2003 - 2012
Registered address is Hobbs Court, 2 Jacob Street, London SE1 2BG.
HM Revenue & Customs, No. 12162570
Regulated and authorised by the Financial Services Authority,
as a Payment Institution, No. 512130