ADVFN - Advanced Financial Network.
HOME» NYSE » C » VALE Stock Price » VALE Stock News

Companhia Vale Do Rio Doce Share News

 Companhia Vale Do Rio Doce Stock Price
VALE Stock Price
 Companhia Vale Do Rio Doce Stock Chart
VALE Stock Chart
 Companhia Vale Do Rio Doce Stock News
VALE Stock News
 Companhia Vale Do Rio Doce Company Information
VALE Company Information
 Companhia Vale Do Rio Doce Stock Trades
VALE Stock Trades

Brazil BNDES President: Government Right To Reduce Forex Volatility

SAO PAULO -(Dow Jones)- The Brazilian government is right to step in to reduce volatility in the foreign exchange market, according to the president of the government-run national development bank, or BNDES. "The government has to mitigate the increased volatility in the currency, this week when the [dollar] hit BRL2.10 the government stepped in to the market to prevent volatility," Luciano Coutinho told reporters after a meeting of business leaders at the National Confederation of Industries, or CNI. "It's part of the game. All the central banks step into the market to avoid excessive volatility." Brazil's currency has been caught up in a wave of volatility associated with fears about the European sovereign-debt crisis, and the real sold off sharply, touching a weak point of BRL2.10 per dollar earlier this week. Since late last week, the central bank has been selling dollar swap contracts, and the currency has since recovered much of its losses. Friday at 1556 GMT the real was trading at BRL1.9962. Meanwhile, the official said that changes made on Thursday to rules governing lending to Brazilian mining bellwether Vale SA (VALE, VALE5.BR) were "normal" for a company of that size. It doesn't mean that lending to Vale is going to rise significantly, Coutinho said. With the change, Brazil's government included Vale alongside oil and gas heavyweight Petroleo Brasileiro SA (PBR, PETR4.BR) and electric power company Centrais Eletricas Brasileiras SA (ELET6.BR) as special beneficiaries of BNDES lending. Coutinho said that despite the ongoing euro-zone crisis and global uncertainty, investment decisions in Brazil are being maintained. He said he's optimistic that investments will grow more than private-sector economists predict this year. The BNDES is still on track to lend 150 billion Brazilian reais ($75 billion) this year, Coutinho said. -By Rogerio Jelmayer, Dow Jones Newswires; +55 11 3544 7071; rogerio.jelmayer@dowjones.com (Matthew Cowley contributed to this article.)

Stock News for Companhia Vale Do Rio Doce (VALE)
DateTimeHeadline
04/15/201417:02:39ADR Shares End Lower; Infosys, Diageo Shares Active
04/15/201413:06:06Brazil's Vale Secures Loan Package From BNDES -- Update
04/15/201410:02:19Brazil's Vale Secures BRL6.2 Billion Loan Package From BNDES
04/11/201409:43:44Brazil's CVM Authorizes IADB to Issue Debt in Local Markets
04/09/201408:44:34BSG Resources, Vale Face Loss of Guinea Licenses -- Update
04/08/201413:20:03Veolia Seeks More Revenue from Mining Industry's Water, Waste...
04/02/201418:27:45Vale Suspends Transporting Coal From Mozambique Mines -- Update
04/02/201416:55:18ADR Shares End Higher; Noah Education Shares Active
04/02/201415:58:33Vale Suspends Coal Shipments From Mozambique Mines
03/19/201412:23:43Vale Says Stock Price Pressured by China Worries
03/11/201417:21:55ADR Shares End Lower; Vale, Barclays Shares Active
03/11/201413:41:59Brazil's Petrobras Reveals BRL8.77 Billion in Tax Disputes
03/04/201417:13:52Glencore Xstrata Posts Large Loss -- 2nd Update
02/27/201414:51:43Brazil's Vale Doesn't Foresee New Debt Issuance This Year
02/27/201413:04:26Brazil's Vale Develops Green Iron Ore To Reduce China Emissions
02/27/201412:33:45Brazil's Vale Sees Ebitda In Base-Metals Division Surging
02/27/201407:21:49Falling Iron-Ore Prices Pinch Producers -- Update
02/26/201421:58:20Vale Posts Smallest Annual Profit Since Privatization -- Update
02/26/201420:30:25Brazil's Vale Posts Its Biggest Loss
02/26/201419:46:50Brazil's Vale Sees Chinese Economic Growth Gradually Slowing...

Companhia Vale Do Rio Doce and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad