2023-10-03 18:21:53
The European currency in Brazil has not registered major changes so far this year. (Infobae)
The euro was quoted at the close at 5.37 Brazilian reals on average, which represented a change of 1.11% compared to the price of the previous session, when it was quoted at 5.32 Brazilian reals on average.
In the last week, the euro records an increase of 1.98%; but in the last year it still has a decrease of 4.15%.
Compared to previous days, it put a stop to two consecutive sessions with a negative trend. Regarding the volatility of recent days, it is clearly lower than the figure achieved for the last year (15.86%), so it is having a more stable behavior than recently expected.
The real, or the Brazilian real as it is known internationally, is the legal currency in Brazil and 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 on the American continent only behind the US dollar, 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.
Today 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.
Regarding the economy, 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 due to the pandemic and the increase in social benefits have created a big hole.
According to the latest forecast made by the Economic Commission for Latin America and the Caribbean (ECLAC), in 2023 the region will grow only 1.3%, while specifically Brazil would only grow three percent.
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