Tuesday, June 6, 2023

The value of the dollar in Brazil will change this May 26 from USD to BRL

The political year in Brazil has an impact on the exchange market. (Information)

Hey American dollar honors to today’s session 5.03 Brazilian reais on averagewhich imported a change of 0.12% to 5.04 Brazilian Reais in the average of the previous session.

If we consider the data of the last week, the US dollar shows growth 0.67%in such a way that it still rises within the bounds of years 0.87%.

In relation to the changes of this day with respect to the previous days, it reverses the result of the previous day in which it rose by 0.19%, recently showing a lack of stability in the results. In the last week, the volatility shows clearly lower behavior than the volatility shown in the figures of the last year, so its price shows fewer variations than expected in recent times.

The real, or Brazilian real as it is known internationally, is legal tender in Brazil and it is the twentieth most traded currency in the world, and second in Latin America, only after the Mexican peso.

In force since 1994, real place “cruzeiro reale” and its abbreviation is BRL; It is also the fourth most traded currency in the American continent, after only the US and Canadian dollars and the Mexican peso.

One of the most notable moments of the Brazilian currency was when the real was introduced in 1998 suffered a strong speculative attack which caused a decrease the following year, going from a value of 1.21 to 2 reais per dollar.

Currently there are 1 and 5 cent copper coins, 10 and 25 cent copper coins and 50 cent cupronickel coins. A real coin is a bimetallic one. It should be noted that in 2005 the one percent coin was dropped, but they are still legal tender.

In economic terms, as in other countries of the region, Brazil he had to face a monster of growth which rose to 11 percent in 2022.

The panorama is complicated by the recent political change of the country, because Luiz Inácio “Lula” da Silva has assumed a new presidential termthe third in his life, in which the economy shows improvements but the aid of the pandemic and the increase of social benefits have created a big hole.

According to the latest forecast from the Economic Commission for Latin America and the Caribbean (Cepal), in 2023 the region will grow by only 1.3%, while specifically Brazil it would grow only three percent.

World Nation News Desk
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