RIO DE JANEIRO (AP) — Some foreign ticket buyers for next year's Olympics are paying higher prices than they should, failing to benefit from the steep decline in the value of the Brazilian currency against the dollar.
Rio de Janeiro organizers reached an agreement a year ago with official ticket resellers outside Brazil to an exchange rate of 2.35 Brazilian reals to the dollar.
Since then, the value of the Brazilian currency has plunged about 70 percent. The current exchange is roughly 4.00 reals to the dollar, meaning that people paying with dollars should find some bargains.