Currency War of 2009–11 dollar, with Goldman Sachs saying the real is the most over valued currency in the world. In October 2010, Brazil began increasing her capital controls, doubling a tax on foreign purchases of fixed-income assets to 4 percent so as to curb the real's appreciation to a two-year. On 18 October, Brazil sought to curb the real's gains by raising taxed capital inflow on fixed-income assets by 2% to 6% and taxed inflows for margin deposits on futures to 6% from 0.38%. Chile said it would implement capital controls to curb gains in the Chilean peso, which had strengthened the most
Brazil financial crisis, the Russian default in 1998 and the series of adverse financial events that followed it, the Central Bank of Brazil temporarily changed its monetary policy to a managed-float scheme while undergoing a currency crisis, until definitively changing the exchange regime to free-float in January 1999. Brazil received an International Monetary Fund rescue package in mid-2002 of $30.4 billion, then a record sum. Brazil's central bank paid back the IMF loan in 2005, although it was not due to be repaid until 2006. One of the issues the Central Bank of Brazil recently dealt with was an excess of