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Brazil & Southern Cone - April 2011 (ISSN 1741-4431)
REGIONAL FOCUS: The weak dollar problem
Brazil and the Southern Cone countries are all suffering from the unusual and sustained phenomenon whereby their local currencies are appreciating against the US dollar in both nominal and real terms. Even the Argentine peso, which has fallen through the Arg$4 to the dollar rate, is actually, on purchasing power terms, close to the overvalued level it reached in 2001 when its 1:1 convertibility with the dollar collapsed.
