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US Dollar Dropping Against Real

By Bruno De Nicola, Contributing Reporter

RIO DE JANEIRO - The US Dollar exchange rate has dropped to its lowest value since October 2008, caused by strong investments from abroad, and a craving for larger profits from the country's high interest rates and the São Paulo stock market.

The Central Bank, lead by Henrique Meirelles, hoped to contain the currency's drop by buying US$1.1 billion but the exchange rate fell to 2.027 Real to the Dollar by the end of play last Wednesday.

The quantity of US Dollars bought on May 20th by the Central . . .

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