Closing value of the dollar in Brazil this May 23 from USD to BRL

Closing value of the dollar in Brazil this May 23 from USD to BRL
Closing value of the dollar in Brazil this May 23 from USD to BRL

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

In the last session the American dollar was negotiated at closing 5.16 Brazilian reals on averagewhich represented a change of 0.12% compared to the 5.15 Brazilians of the previous day.

Taking into account the last week, the American dollar registers an increase of 1.03%so that since a year ago it has still accumulated an increase in 5.28%.

Analyzing this data with that of past days, it chained four consecutive positive sessions. The volatility of the last seven days was 5.18%, which is a figure noticeably lower than the annual volatility figure (9.82%), so its price is showing fewer alterations than normal 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 scenario will not be repeated this year due to the lack of a solid base .

The CNI estimates that the international economic 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 exchanged 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.

Today 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.

Regarding the economy, 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 mandatethe 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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