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Brazil Currency Crashes 70% but Overseas Olympic Tickets Stuck on Old Rate of Exchange.

 

The Brazilian currency, the real, has plunged about 70 percent recently to roughly 4.00 reals to the dollar, but a lot of Olympic ticket buyers outside of Brazil wont see any bargains. Last year, Rio de Janeiro organizers reached an agreement with official ticket resellers outside Brazil to sell the tickets at an exchange rate of 2.35 Brazilian reals to the dollar.

 

Some countries though elected to pay the committee in reals for the tickets last year, like Austria and Germany,  and they will see the bargains. No such luck for the United States and Britain who decided to pay in dollars at the fixed rate.

 

If you want a thing done, ask a busy man.

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