RIBT-The Brazilian currency has fallen to a better

RIBT- The Brazilian currency has fallen to a better level.

It was going against RIBT in November, then the Brazil government intervened to support their Real. It averaged 2.04 most of the year and went up to about 2.15. Yesterday and today it fell below 2.00. The currency adjustment was 20.5% against RIBT in Q3 and turned a nice profit from Irgovel into a loss. I estimate the Q4 adjustment will be about 13% against RIBT. And if the Real/Dollar stays about where it is now, the adjustment will be 14% against RIBT. The good news is that Q2 should be about break even, assuming the Real/Dollar stays about here. I really don't expect the Real to fall much farther since the area it is in was the target for the Brazil government to drive it down to.

With enough sales increase at Irgovel in Q4 and or 1, I think RIBT could still eek out a profit in Brazil. And lets hope Beneo is setting the world on fire as well to help the stateside..

You can make a 2 year chart on the pasted site to see what I see.

http://ih.advfn.com/p.php?pid=qkchart&symbol=FX^USDBRL