At the beginning of the day, the euro was paid at the opening to 5.53 Brazilian reals on average, which meant a decrease of 0.15% compared to the price of the previous day, when it ended with 5.53 Brazilian reals on average.
If we consider last week's data, the euro marks a decline of 1.36% and in the last year it still accumulates a fall of 15.36%. As for the variations of this day with respect to past days, it adds four sessions in a row in negative. In the last week, volatility is 14.76%, which is somewhat higher than the annual volatility figure (14.32%), which indicates that it changes more than the general trend in value.
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 closer to its minimum value than to the maximum.
Crisis for the Brazilian real
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 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.
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.
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 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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