World Cup Opens Arbitrage Opportunity for Brazil Boy
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The freefalling Brazilian real is unintentionally creating a boon for soccer fans seeking tickets to next year’s World Cup, with the currency’s tumble opening up a 20 percent difference between local and overseas prices.
“What an arbitrage opportunity,” John Welch, a strategist at Canadian Imperial Bank of Commerce in Toronto who was raised in Brazil and plans to attend the tournament next June, said in a phone interview. “Without a doubt some people will be transferring dollars at the market rate and then buying tickets in reais.”