Last day the euro traded at the close of 5.43 Brazilian reals on average, which meant a decrease of 2.25% compared to 5.55 Brazilian reals on average in the previous day.
Compared to the profitability of the last seven days, the euro marked a drop of 4.16% and for a year it has still been down 16.45%. Analyzing this data with that of previous days, it reversed the value of the previous day, where it obtained a rise of 1%, showing that it is unable to consolidate a clear trend in recent dates. With reference to the volatility of the last week, it presented a balance that was higher than the volatility reflected in the last year's data, so it showed greater changes than the general trend in value.
In the last year, the euro has changed by a high of 6.45 Brazilian reals on average, while its lowest level has been 5.43 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 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 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.
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 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 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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