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
Name of Brazil Name of Brazil The name "Brazil" is a shortened form of "Terra do Brasil", "land of Brazil", a reference to brazilwood, given in the early 16th century to the territories leased to the merchant consortium led by Fernão de Loronha for commercial exploitation of brazilwood for the production of wood dyes for the European textile industry. The term for the brazilwood tree in Portuguese, "pau-brasil", is derived from "brasa" ("ember"), a reference to the colour, formed from medieval Latin "brasa", from Old French "brese", "ember, glowing charcoal", in turn from a West Germanic "*brasa"). The land of what became Brazil