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Article: Exchange rate helps create import substitution worth US$10bil.
- Article from:
- South American Business Information
- Article date:
- January 8, 2004
CopyrightCOPYRIGHT 2004 COMTEX News Network, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Brazil, Jan 6, 2004 (Gazeta Mercantil/SABI via COMTEX)
The continuous devaluation of the Brazilian real against the US dollar since 1999 have encouraged the market to replace imported consumer goods for relatively cheaper domestic production, especially of food products, textile and cars. This import substitution process, however, is expected to end in 2004 as the exchange rate between the real and the US dollar tends to stabilize at between R$3.10 and R$3.40 to the dollar. According ...