After the opening of the trading session, the US dollar is paid at the opening at 5.10 Brazilian reals, which implied an increase of 0.4% compared to the previous day's figure, which was 5.08 Brazilian reals.
Taking into account the last week, the US dollar recorded a 1.7% increase; despite this in the last year it still has a decline of 10.31%. Compared to previous dates, it reverses the result of the previous day, where it ended with a decrease of 0.86%, showing itself unable to consolidate a stable trend recently. In the last week, volatility is slightly lower than that accumulated in the last year, presenting itself as a value with fewer variations than expected in recent days.
In the annual photo, the US dollar has even changed by a high of 5.71 Brazilian reals, while its lowest level has been 5.01 Brazilian reals. The US dollar is positioned closer to its minimum value than to the maximum.
Between crisis and uncertainty
The real, or the Brazilian real as it is known internationally, is the legal tender in Brazil and is the twentieth most used currency in the world and the second most used 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 COVID-19 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 stop 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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