Dollar: Today, March 17, the market price in Brazil

After the opening of the trading session, the US dollar will be paid from 5.10 Brazilian reais, which means an increase of 0.4% compared to the previous day's figure of 5.08 Brazilian Real.

Taking into account last week, the US dollar recorded a 1.7% increase. Despite this, it still fell 10.31% last year, showing the inability to consolidate the recent stable trend by reversing the results of the previous day, a decrease of 0.86% compared to the previous date. The volatility of last week is slightly lower than the volatility accumulated last year, which appears to be a value with less fluctuation than recently expected.

annual photo, the US dollar reached a high of 5.71 Brazilian reais, with the lowest level being 5.01 Brazilian reais. The US dollar is located closer to the minimum than the maximum.

Between the crisis and uncertainty

real or Brazilian real, known internationally, is the legal tender in Brazil, the 20th most used currency in the world, and the second most used currency in Latin America after 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.

Currently, there are copper coins of 1 cent and 5 cents, 10 and 25 cent coins, and white copper coins of 50 cents. The real coins are bimetal. It should be noted that the penny was suspended in 2005, but it is still a legal tender.

For the economy, 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 be suspended 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.

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