Exchange Rate in Brazil
Over the last decade, the Brazilian real faced significant depreciation against the dollar, largely due to political turmoil, concerns over the large fiscal deficit, economic instability, significantly higher inflation than in the U.S. and low commodity prices early in the period. Brazil's currency did manage to claw back some ground in 2022 and 2023 on high interest rates, strong prices for key commodity exports, and a bumper harvest, but weakened to a record low in late 2024 due to market scepticism over the government's fiscal approach.
The exchange rate ended 2022 at BRL 5.28 per USD, compared to the end-2021 value of BRL 5.57 per USD and the figure a decade earlier of BRL 2.36 per USD. For more exchange rate information, visit our dedicated page.
Brazil Exchange Rate Chart
Note: This chart displays Exchange Rate (vs USD) for Brazil from 2024 to 2023.
Source: Macrobond.
Brazil Exchange Rate Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Exchange Rate (BRL per USD, eop) | 5.19 | 5.57 | 5.28 | 4.86 | 6.18 |
| Exchange Rate (BRL per USD, aop) | 5.15 | 5.40 | 5.16 | 5.00 | 5.39 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Brazilian exchange rate projections for the next ten years from a panel of 36 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exchange rate forecast available for Brazilian exchange rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Brazilian exchange rate projections.
Want to get access to the full dataset of Brazilian exchange rate forecasts? Send an email to info@focus-economics.com.