The euro is paid at the opening to 5.55 Brazilian reals on average, a decrease of 0.77% compared to the previous day's figure, when it closed with 5.59 Brazilian reals on average.
If we consider the data for the past seven days, the euro is showing an increase of 0.11%; but for a year it has still accumulated a decrease of 14.03%. Compared to earlier dates, chain two sessions in a row in the red. In the last week, volatility was somewhat higher than the figure achieved for the last year (14.33%), indicating that the value experienced greater alterations than the general trend.
In the annual photo, the euro has even changed by a high of 6.45 Brazilian reals on average, while its lowest level has been 5.50 Brazilian reals on average. The euro is placed closer to its minimum than its 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 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 episodes 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.
In the economic sector, 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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