brazilian real conversion

Discussion in 'Forex' started by esmjb, Sep 25, 2011.

  1. esmjb


    I'm looking for the most efficient way to convert $US to brazilian real. Can anyone here tell me the best way to do this or give me some leads? IB and Oanda don't offer it and there is zero volume on the CME. Any help?
  2. I assume he wants physical currency. NDC means non-deliverable currency - so thats a no go. Most South-american countries have strict currency controls and are not freely tradable (often only via NDF).
  3. Daal


    The ETF BZF is the only way I know. They are essentially priced off NDFs. Implied yield is something like 9%(does not come out as dividends but cap gains distributions, which are tax free to non resident aliens)
  4. esmjb


    Yes, Im looking for physical delivery. What is NDF?
  5. "Non deliverable forward" - not useful for you.
  6. Go to a few currency exchanges that deal in physical. Speak to the manager. Negotiate hard and if he must take a day, two or three to get the physical from his main office strike a deal BEFORE you order it and get a receipt.

    Be careful and be prepared to walk out rather than get raped!
  7. esmjb