Opinion: Brazil’s Un-Real Currency

Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – Around 22 years ago, writing for another Rio publication and using his real name (no pun intended), the Curmudgeon correctly predicted that there would be yet another maxi-devaluation of the currency, and that the new currency would be called the “real".

And so it happened. Brazil got real (pun intended) and got off the addictive not-very-merry-go-round called “monetary correction” which perpetuated rampant inflation while keeping it reined in.

The

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