The US dollar traded at the close at 5.04 Brazilian reals on average, down 0.67% compared to 5.08 Brazilian reals on average the previous day.
In the last week, the US dollar registered a rise of 0.62%; on the other hand, in year-on-year terms it still maintains a decline of 11.27%. Comparing this data with that of last days, he added two dates in a row in decline. With reference to the volatility of the last week, it presented a subtly higher return than the volatility shown in the last year's figures, so it is showing a more unstable behavior.
In the annual photo, the US dollar has even changed by a high of 5.71 Brazilian reals on average, while its lowest level has been 5.01 Brazilian reals on average. The US dollar is positioned closer to its minimum value than to the maximum.
Crisis for the Brazilian real
The real, or the Brazilian real as it is known internationally, is the legal tender in Brazil and is the twentieth most traded currency in the world and the second most traded currency in Latin America only behind the Mexican peso.
Inforce since 1994, the real replaced the “cruzeiro real” and its abbreviation is BRL; it is also the fourth most traded currency in the American continent only behind the US dollar, Canadian dollar and Mexican peso.
One of the moments that most marked the Brazilian currency was when in 1998 the real suffered a strong speculative attack that caused its devaluation the following year, going from a value of 1.21 to 2 reais per dollar.
There are currently 1 and 5 cent copper coins, 10 and 25 cents bronze coins and 50 cents cupronickel coins. The coin of a real is bimetallic. It should be noted that in 2005 the pennies were discontinued, but it is still legal tender.
As for the economy, the International Monetary Fund (IMF) cut Brazil's growth by 1.7 percentage points for 2022, especially due to the deterioration of global conditions between high inflation and the coronavirus pandemic.
It should be noted that the Brazilian economy, the largest in the Latin American region, entered a recession in the second quarter of 2021 and is forecast to stagnate throughout 2022.
Due to COVID-19, Brazil was forced to disburse more money as stimulus measures (about 12% of GDP) in order to cope with the pandemic, which ultimately resulted in a budget deficit for 2022.
Agencies
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