Brazil: opening price of the dollar today May 21 from USD to BRL

Brazil: opening price of the dollar today May 21 from USD to BRL
Brazil: opening price of the dollar today May 21 from USD to BRL

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

He American dollar is quoted at the beginning of the session at 5.11 Brazilian reals on averageso that it represented a change of 0.11% compared to the previous day’s figure, when it ended with 5.10 Brazilians.

In the last seven days, the American dollar notes a decrease in 0.55%; On the contrary, for a year now it has still accumulated an increase in 3.85%.

Compared to past days, there are two consecutive sessions in green. The volatility for the last week is 3.37%, which is a figure visibly lower than the annual volatility figure (9.82%), which indicates that it is having a more stable behavior than expected in recent days.

The Brazilian economy was positioned as the fastest growing in Latin America driven by the agricultural sector and exports, however, the National Confederation of Industry (CNI) estimates that this situation will not be repeated this year due to the lack of a solid base .

The CNI estimates that the global context will prevent the same historical increases from being recorded as last year and expects there to be a slowdown of up to 0.2 percent.

Carlos Kawall, former Brazilian Treasury Secretary, considered that the international scene points to a reduction in the interest rates of the world’s main banks and predicts that there will be economic growth between 1.5 and 1.8 for the South American country.

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

In force since 1994, the real replaced the “cruzeiro real” and its abbreviation is BRL; It is also the fourth most traded currency on the American continent only behind the US dollar, the Canadian dollar and the Mexican peso.

One of the events that have most marked the Brazilian currency was when in 1998 the real suffered a strong speculative attack which caused its devaluation the following year, going from a value of 1.21 to 2 reais per dollar.

Currently there are copper 1 and 5 cent coins, bronze 10 and 25 cent coins, and cupronickel 50 cent coins. The one real coin is bimetallic. It should be noted that in 2005 the one cent coins were discontinued, but they are still legal tender.

In economic matters, like other countries in the region, Brazil is has had to face the monster of inflation which rose up to 11 percent in 2022.

The panorama is complicated by the recent change in the country’s politics, since Luiz Inácio “Lula” da Silva assumed a new presidential termthe third in his life, in a context in which the economy shows improvements but aid for the pandemic and the increase in social benefits have created a large hole.

 
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