CRUZEIRO DEVALUED
(N.Z.P.A.-Reuter—Copyright) RIO DE JANEIRO, Feb. 6. The Brazilian Government has devalued the cruzeiro by 2.5 per cent, and says it is considering suspending the political rights of more of its opponents. The new exchange rate will be 3.9 cruzeiros to the United States dollar, compared with the old rate of 3.8.
The cost of living in Brazil has been increasing rapidly in the last five years, and the Government devalued the cruzeiro by 1.5 per cent on December 9.
The National Security Council has been asked to meet on Friday to consider further suspensions of political rights. The council has stripped the rights of 52 persons since President Arthur da Costa e Silva closed Congress on December 15 and took almost dictatorial powers.
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Bibliographic details
Press, Volume CIX, Issue 31907, 7 February 1969, Page 15
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125CRUZEIRO DEVALUED Press, Volume CIX, Issue 31907, 7 February 1969, Page 15
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