The euro was negotiated at closing to 5.57 Brazilian reais on averagewhich represented a change of 0.09% compared to the value of the previous session, when it ended with 5.57 Brazilian reais on average.
Taking into account the last seven days, the euro marks an ascent from 0.26%so that from a year ago it still maintains a rise in the 6.67%.
In relation to the changes of this day with respect to previous days, it turned the tables with respect to the previous day, when an increase of 0.36% was recorded, showing that it is not capable of consolidating a recently defined trend. The volatility figure was clearly lower than that accumulated in the last year, so that its price is presenting fewer changes than expected in recent times.
The Brazilian currency amid uncertainty
The real, or the Brazilian real as it is known internationally, is the legal tender in Brazil and it is the twentieth most used 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 in the American continent, behind only the US and Canadian dollars and the Mexican peso.
One of the episodes that 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 1 and 5 cents copper coins, 10 and 25 cents bronze coins and 50 cents cupronickel 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 has had to face the monster of inflation which rose 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 the aid for the pandemic and the increase in social benefits have created a large hole.
According to the latest forecast made by the Economic Commission for Latin America and the Caribbean (Cepal), in 2023 the region will grow only 1.3%, while specifically Brazil it would only grow three percent.
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