The euro traded at the close at 5.64 Brazilian reals, up 1.98% from the previous day's figure, when it traded at 5.53 Brazilian reals.
If we consider the data for the last week, the euro accumulates an increase of 2.41%; on the contrary, for a year it has still maintained a decrease of 11.92%. Compared to previous days, the direction of the previous result changed, which resulted in a decrease of 0.51%, showing recently a lack of stability in the result. The volatility of the last seven days is slightly higher than the numbers achieved for the last year (14.32%), indicating that it varies more than the general trend in value.
In the last year, the euro has been changed by a high of 6.45 Brazilian reals, while its lowest level has been 5.50 Brazilian reals. The euro is 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 it 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 events 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.
As for the economy, 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 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 forecast to stop 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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