“ The currency exchange is more of a curiosity.”
Nothing curious about it.
And it dilutes foreign returns significantly.
It’s a curiosity to -me-. I’m an investor not a trader. I’ll be in Br for at least 20 years. Why so confident? Because the corporations in Br are more powerful than the government, with military backing. Their government can’t just print money without assets and those assets are controlled by Br corporations.
How/why can I be so sure? High dividends plus the value of the underlying asset. Oil consumption isn’t going anywhere and the quality and quantity of Br’s pre-salt deposits is many decades of oil production. I don’t have the money to buy a sizeable dividend income stake of ARAMCO or Exxon.