After the opening of markets the euro is quoted in the session from today to 6.25 Brazilian reals on averagewhich implied a change of 0.07% compared to the 6.26 Brazilians of the previous day, reports Dow Jones.
In reference to the profitability of the last seven days, the euro registers a decrease of 0.13%, so in interannual terms it still maintains a decrease in 0.32%.
If we compare the data with previous days, it adds two successive dates in negative figures. In the past seven days, volatility is clearly lower than that accumulated in the last year, so its price is showing fewer changes than usual at this time.
The International Monetary Fund predicts that Brazil will achieve a growth rate of 2.1 percent by 2025, considering energy and raw materials exports as the main drivers of its economy.
Agricultural activity will also represent an important advance for the economy of the South American country, since the Central Bank predicts that this sector will register higher than expected growth. In its most recent sport, the Brazilian organization explained that the improvement in economic forecasts occurs in a context of turbulence related to its local currency.
In the last weeks of 2024, the Brazilian real was devalued by almost 9% against the US dollar and despite the fact that the State Attorney General’s Office requested an investigation into the dissemination of fake news that “represented a direct interference in the markets’ perception of the national currency”, the Central Bank ruled out that there is a speculative attack against its currency.
The Central Bank estimates that the Gross Domestic Product in 2025 will be lower than in 2024, due to the expectation of a lower fiscal impulse and the ongoing inflection of monetary policy.
The real, or the Brazilian real as it is known internationally, is the legal currency in Brazil and is the twentieth most traded 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 has most marked the Brazilian currency was when in 1998 the real suffered a strong speculative attack that caused its devaluation the following year, going from a value of 1.21 to 2 reais per dollar.
Currently 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.
In the economic branch, like other countries in the region, Brazil has had to face the monster of inflation that rose up to 11 percent in 2022.
The panorama is complicated by the recent change in the country’s politics, as Luiz Inácio “Lula” da Silva assumed a new presidential term, the 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.
