The latter do not want to come. And spoke of possible future measures and the role of the Central Bank of Brazil: The Central Bank will continue to purchase the excess dollars and until we can think of other measures to attenuate something that is almost inevitable, which is the growing interest in the real in Brazil. There are same versions that you could lend hand to the sovereign fund to sustain the dollar, if the effect of 2% of the IOF has no effect. A market operator who preferred anonymity, drew OGlobo market reacted Tuesday emotional way and now already perceives that the tax of 2% to the foreign capital is not a bug of seven heads. And he added that large sellers on Tuesday, are large makers today (Wednesday), including Credit Suisse, known entity to operate foreign capital in the country.
Also influences the fact that investors have realized that can buy shares of the Bovespa without pay 2% of IOF: buying and deposited in a foreign bank SARD negotiated in New York, and then turning into actions in the bag of Brazil (upside down what lies ahead making in Argentina, to) taking money from the country in this case), since not paid IOF for the conversion. The operative costs represent approximately 0.5% of the value of the stock, less than 2% applied by the IOF. And the investor who does it, will also obtain gains with a possible appreciation of the real, something that is discounted by many analysts in Brazil. Edemir Pinto, President of the BM & FBovespa, said that a very large money movement has gone for SARD market in New York, and Mantega requested revocation of the IOF for equities. According to Pinto, a third of negotiated in the Sao Paulo Stock Exchange comes from outside. And of course ran to Brasilia to Mantega, who promised him to revise the order of exemption for the tax equity, but without deadlines. The measure is wise, and the tax is modest, according to the Financial Times.