Brazil Exchange Rate


Brazil: Brazilian real falls to over-three-month low

July 10, 2015

In July, the Brazilian real (BRL) continued the downward trend that started in April 2014, falling against the U.S. dollar. The real fell to a 3 month-low on 8 July and closed at 3.23 BRL per USD, which represented a 4.2% depreciation over the same day last month. The figurere presented a 46.2% decline in value from the same day of the previous year.

The sharp depreciation comes amid a deteriorating outlook for Brazil’s economy and increasing global uncertainty surrounding Greece’s future in the Eurozone. In addition, political uncertainty is rising in Brazil as Rousseff’s approval ratings have fallen to an all-time low and she is facing rising hostility in Congress.

LatinFocus Consensus Forecast panelists expect the real to end 2015 at 3.11 BRL per USD. In 2016, panelists believe the real will depreciate further to 3.23 BRL per USD

Author: Angela Bouzanis, Senior Economist

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Brazil Exchange Rate Chart

Brazil Exchange Rate July 2015

Note: BRL per USD (eop)
Source: Thompson Reuters and FocusEconomics Consensus Forecast.

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