Word: cruzeiro
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Dates: during 1950-1959
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...wiped out an earlier, limited trading in scarce "tourist dollars" at more than 600. The peso's comeback, plus last year's inflation (now checked), has pushed the price of a bottle of gran vino, for example, from 25? to $1 for dollar earners. Brazil's cruzeiro has been slipping steadily on the limited free market, but local price inflation has kept step, and only the country's famed gem stones are real bargains. In Peru, too, local prices have mostly caught up with the 1949 devaluation, but $60 to $80 a month will still rent...
COFFEE PRICES, which have bounced up and down for two years, will go up again. Frost damage to Brazilian crops plus uncertainty about dollar-cruzeiro exchange rates pushed New York wholesale prices up 3? a lb.; the jump will soon be passed on, thus pushing up prices on such popular brands as Maxwell House and Chase & Sanborn from an average 95? to as much...
...cheeked, white-mustached. 76-year-old Sāo Paulo banker with 13 children, 68 grandchildren, five great-grandchildren. Brazilians took heart from his promise to avoid "hasty solutions," and from his reputation as a hardheaded financier. A columnist called the appointment "an unexpected miracle," and the free-market cruzeiro climbed from 86 per dollar to 80, about where it stood on the eve of the earthquake...
...dismay, the press found out all about the under-the-table deal, reported it in screaming headlines to a scandalized nation. Capable Finance Minister Eugenio Gudin indignantly resigned, and the Minister of Transport and Public Works followed him out. Gudin's departure sent inflation-battered Brazil's cruzeiro sliding downward...
COFFEE PRICES will come down for U.S. consumers as a result of Brazil's devaluation of its coffee dollar. To boost lagging coffee exports, Brazil has cut the dollar-cruzeiro exchange rate to exporters 15%, thus chopping the minimum export rate for Brazilian coffee from...