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Headline: Little love lost between Mercosur partners Source: Euromoney Date: September 2001
While Argentines switch their peso deposits to dollars and move their dollar deposits out of the country, Brazilians remain perfectly happy with their currency, the real. And since both personal savings and personal credit (including mortgages) are minuscule in Brazil, the central bank’s rate increases have had very little direct effect on individuals’ finances. | |||||||||||||||||||||||||||||||||||||||||
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