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Brazil Economic Watch: ”New IOF tax on derivatives implemented to take some steam off the exchange rate”

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Publicada el martes, 26 de julio de 2011

Brazil Economic Watch: ”New IOF tax on derivatives implemented to take some steam off the exchange rate”

The measure comes as no surprise and follows the recent appreciation of the Brazilian currency. More measures should not be ruled out, especially when the exchange rate breaks the 1.55 level.