The government has purposely kept it from getting too strong with those 'tax measures'...Combine all those efforts with declining rates, European slowness, etc and its no wonder we don't see $1.6 exchange rates right now. But that rate is historically very very strong.
Selix rates right now are VERY low. Historically so actually. They will trend lower over the LONG term and probably a bit lower in the short term but don't expect to see it down to 5-6% anytime soon IMHO. Heck, the government just changed the SAVINGS account-return-formula rule because it didn't work properly with a SELIX below 8.75%.
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