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A stock trader watches the speech of new Brazilian Central Bank President Francisco Lopes on...

IMAGE number
REU7621156
Image title
A stock trader watches the speech of new Brazilian Central Bank President Francisco Lopes on a monit.., 1999-01-12 (photo)
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Photographer
Gregg Newton
Medium
photograph
Date
1999 AD (C20th AD)
Shooting Date
1999-01-12
Image description

A stock trader watches the speech of new Brazilian Central Bank President Francisco Lopes on a monitor at the bourse in Rio de Janeiro, January 13 after trading was delayed for more than an hour. [Lopes replaced Gustavo Franco, who resigned in the midst of a deep financial crisis. ]The government devalued its inflation-busting real currency by nearly nine percent, causing turmoil in the world financial markets amid fears that Brazil would not be able to keep a grip on massive dollar outflows. Brazil's Bovespa market plummeted ten percent at the days open, causing an immediate halt of trading.

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REUTERS/Gregg Newton / Bridgeman Images
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