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A while back I wanted to open a CD or Money Market Account in a foreign currency and only found Everbank. Good idea but didn't like the fees/rates and found an alternative investment.

After reading Pimco's, Bill Gross recent commentary on inflation and assets denominated in BRIC currencies I checked again and discovered the new Wisdomtree Currency/Income ETFs. They offer ETFs for the Yuan, Euro, Yen, Rupee, and Real.

Here is what they say about their Brazilian Real Fund (BZF): "WisdomTree Dreyfus Brazilian Real Fund seeks to earn current income reflective of money market rates in Brazil available to foreign investors, as well as provide exposure to movements in the Brazilian Real relative to the U.S. Dollar. Although this fund invests in very short-term, investment grade instruments, the fund is not a "money market" fund and it is not the objective of the fund to maintain a constant share price."

BZF is too new and hasn't made any distributions yet but MM funds in Brazil are 12% according to Wisdomtree Some positives in addition to the anticipated rate: Buffet's bet on the Real, recent upgrade Brazil’s long-term sovereign debt to investment grade, and the Real has been in an uptrend against the dollar .

Any comments on the Wisdomtree ETFs or the Brazil Real? Thanks
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