After the opening of the trading session, the euro traded at the opening at 5.39 Brazilian reals on average, which represented a decrease of 0.78% compared to 5.44 Brazilian reals on average the previous day.
Compared to the profitability of the last seven days, the euro recorded a decrease of 3.56%, so that in the last year it still has a decrease of 17.37%. Regarding past dates, he chains two consecutive sessions in relegation. The volatility for the last week is 12.37%, which is lower than the annual volatility figure (14.34%), therefore its price is showing less change than usual in recent dates.
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 5.39 Brazilian reals on average.
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.
Today there are 1 and 5 cents 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 spend 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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