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In an attempt to curb foreign cash inflows that have pushed up the value of the REAL, the C.Bank has imposed a tax of 6% on international bond sales and loans with maturities of up to 360 days.
The REAL has gained 39% vs usd since the end of 2008.
Additionally, according to the WSJ, the tax on overseas credit card purchases was raised to 6.4% from 2.4%.
