The US dollar is trading at the opening at 4.90 Brazilian reals on average, which implied a decrease of 0.17% compared to the previous day's value of 4.91 Brazilian reals on average.
Taking into account the last seven days, the US dollar has fallen by 3.46%, so in year-on-year terms it still maintains a decrease of 12.73%. In relation to past days, it accumulates six successive sessions of negative numbers. As for the volatility of recent dates, it is manifestly lower than that accumulated in the last year, which shows that we can say that it is going through a period of greater stability lately.
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 4.90 Brazilian reals on average.
The Brazilian currency
El real, or the Brazilian real as it is known internationally, is the legal tender in Brazil and is the twentieth most circulated currency in the world and the second 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.
On the economic front, 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 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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