The euro finished at the close at 5.61 Brazilian real on average, up 1.3% from 5.53 Brazilian real on average the previous day.
If we consider the data of the last seven days, the euro accumulates an increase of 1.63%, although on the contrary, it maintains a decrease of 13.2% year-on-year. As for the variations of this day compared to the previous dates, they were interrupted by the stagnation of market prices of the last two sessions. The volatility of the last seven days was significantly lower than that accumulated last year, which shows that in this last phase the variation is below normal.
Inthe annual photo, the euro reached a maximum of 6.45 Brazilian reais on average, while its lowest level was 5.50 Brazilian reais on average. The euro is positioned closer to its low than its maximum.
Between crisis and uncertainty
The real, or Brazilian real as it is known internationally, is legal tender in Brazil and is the twentieth most traded currency in the world and the second most traded currency in Latin America, behind the Mexican peso.
Inforce since 1994, the real has replaced the “cruzeiro real” and its abbreviation is BRL; it is also the fourth most traded currency on the American continent, behind the US dollar, the Canadian dollar and the 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.
Today, there are 1 and 5 cent copper coins, 10 and 25 cent bronze coins, and 50 cent cupronickel coins. The piece of a real is bimetallic. It should be noted that in 2005, pennies were abolished, but they are still legal tender.
In the economic sector, the International Monetary Fund (IMF) reduced Brazil's growth by 1.7 percentage points for 2022, in part due to deteriorating global conditions between high inflation and the SARS-CoV-2 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 expected to stop throughout 2022.
Due to COVID-19, Brazil was forced to disburse more money in the form of 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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