After opening the American dollar is quoted at the beginning of operations at 5.52 Brazilian reals on averagewhich represented a change of 0.02% compared to the value of the previous day, when it stood at 5.52 Brazilians.
Taking into account the last seven days, the American dollar marks an increase in 1.29%% and in the last year it still maintains an increase in 10.89%.
In relation to the variations of this day with respect to previous days, with this value it cuts the streak that marked the previous two days. The volatility figure presents a balance higher than the volatility reflected in the last year’s data, which is why it presents greater variations than the general trend of the value.
The Brazilian economy has positioned itself 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 foundation.
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 episodes 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 1 and 5 centavo copper coins, 10 and 25 centavo bronze coins and 50 centavo cupronickel coins. The one real coin is bimetallic. It should be noted that in 2005 the one centavo 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 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.
