Since the start of the trading session, the euro is trading at 5.68 Brazilian reais, which means it has risen 2.68% compared to 5.53 Brazilian Real the previous day.
Compared to the last 7 days, the euro has increased by 2.42%. Nevertheless, last year it still decreased by 11.59%. In relation to the previous day, a decrease of 0.18% was recorded by reversing the previous day's table, indicating a lack of stability in recent results. Since the volatility for the last 7 days is 16.7%, which is higher than the annual volatility figure (14.41%), the value changes more than the general trend.
In theannual photo, the euro reached a high of 6.45 Brazilian reais, with the lowest level being 5.50 Brazilian reais. The euro is closer to the minimum value than the maximum value.
Thecrisis of Brazilian
real,or Brazilian real, known internationally, is a legal tender in Brazil, the 20th most used currency in the world, and the second most used currency in Latin America than the Mexican peso.
The actual, which has been in force since 1994, has replaced “cruzeiro real”, and its abbreviation is BRL. It is also the fourth most traded currency on the US continent, after the US dollar, the Canadian dollar, and the Mexican peso.
One of the moments that most marked the Brazilian currency was in 1998, when real suffered a strong speculative attack, causing a devaluation the following year, rising from 1.21 to 2 reais per dollar.
Today, there are copper coins of 1 cent and 5 cents, bronze coins of 10 cents and 25 cents, and cupronized coins of 50 cents.The real coin is bimetal. It should be noted that the penny was suspended in 2005, but it is still a legal tender.
On theeconomic side, the International Monetary Fund (IMF) reduced Brazil's growth by 1.7 percentage points in 2022, especially due to the deterioration of the global situation between high inflation and the COVID-19 pandemic.
Brazil's economy, the largest in the Latin American region, entered a recession in the second quarter of 2021 and is expected to stagnate throughout 2022.
Because of COVID-19, Brazil had to pay more with economic stimulus measures (about 12% of GDP) to cope with the pandemic, which ultimately led to a budget deficit for 2022.
Agencies
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