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Rio Getting Cheaper Again??

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Miami, Florida
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Rio Getting Cheaper Again??

Just checked the currency exchange and the Reais is now 2.43 to the US $....last time I looked it was around 1.8.....is this a temporary phenomenon or sustainable?...if so, Rio--and maybe Floripa might be on my radar for an April vacation....did this happen overnight--i.e. last week when the emerging markets took a dump on worldwide financial exchanges.

Philadelphia...
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1. Re: Rio Getting Cheaper Again??

It’s not a new phenomenon. The U.S. dollar has been gaining against the real for some time now.

http://bloom.bg/1bypyHC

Miami, Florida
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2. Re: Rio Getting Cheaper Again??

last time I checked--maybe as recently as November, I could swear it was around 1.8 to the USD...at 2.43, that's a 35% gain for the dollar since the last time I looked.....Brazil could very well be back on my radar for the first time since 2010....do you suspect it might get even better than present??? (clearly I will be avoiding the World Cup) but a spring or end of year vacation could very well be on.

Philadelphia...
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3. Re: Rio Getting Cheaper Again??

My guess it that the dollar will get somewhat stronger against the real because recent economic reports indicate setbacks in Brazil’s economic growth.

http://reut.rs/1k88bn1

Rio de Janeiro, RJ
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4. Re: Rio Getting Cheaper Again??

Well, I went to the US in October 2013 and it was already around 2.20...

The forecast is of a stronger dollar, so it may keep going up.

Rio de Janeiro, RJ
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5. Re: Rio Getting Cheaper Again??

in late 2004, under a quite different Brazilian economy, the exchange rate was up around 3.0 to 1 USD. Then it lowered and for most of the past few years it's been around 2.0 to 1 USD. Given the strength of the USD and the Real's current weakness, 2014 is shaping up to a great year for tourists visiting Brazil and Rio in particular, especially with World Cup lodging prices.

Miami, Florida
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6. Re: Rio Getting Cheaper Again??

I started going in 2004 and you were right about 3:1.....I've been scared off in recent years with a 1.8:1 ratio and have traveled elsewhere (Europe--if I was going to pay European prices, might as well go to Europe) since 2010...now Rio--and elsewhere in Brazil--is back in play.

Rio de Janeiro, RJ
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7. Re: Rio Getting Cheaper Again??

Not only rates have changed, but also prices have gone up in Brazil over the last 5, 6 years...inflation. So it's good for tourists to have a better rate, as inflated prices have a less dramatic impact to their trip.

NYC, NY
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8. Re: Rio Getting Cheaper Again??

At over two reals to the dollar yes, Rio and Brazil becomes more affordable for US tourists. Most commentators expect the dollar to remains strong against emerging market currencies for a bit of time. The dollar's strength has been seen vis a vis most EM currencies and the currency problems in Argentina, next door, are no doubt having some effect too.

Philadelphia...
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9. Re: Rio Getting Cheaper Again??

The U.S. dollar has risen to its highest level against the Brazilian real in six years and is now 30% stronger than it was just a year-and-a-half ago.

http://www.oanda.com/currency/converter/

U.S. $1.00=R$ 2.55936.

Philadelphia...
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10. Re: Rio Getting Cheaper Again??

The price of the U.S. dollar is at a new record high in Brazil.

On Wednesday it reached R$2.613, an increase of 0.55%. The rate is the highest since April 18, 2005, when the dollar closed at R$2.616.

The currency rate has increased 1.59% in December and 10.82% so far this year.

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