All over Brazil people have stopped using Reals because the price is too volatile.
"What if I buy something and the price goes up" said one resident.
"I'll just wait to buy some Reals when it's not so volatile" said another.
Some stores are hesitant to accept Brazilian Reals in their stores
"It could also cause suspicion between residents if one resident gets a good discount for making a purchase at the right time."
Others are concerned that they
"...will need to regularly adjust the prices according to the market..."
Goldman Sachs has released a report stating that the Brazilian Real cannot work as a currency because the Brazilian Real is just too volatile. They also noted "
For businesses today it is not yet feasible to hold Brazil Real given its volatility, and so merchants must convert into other fiat currencies immediately (and incur commission charge)"
Some investors have opted to just buy Brazilian Real and "hodl" in the hopes that the price skyrockets.
yeah because a currency that is heading towards failure will obviously skyrocket, instead of being inflated into oblivion.
When did a fiat currency ever skyrocket in a good way?
