The Brazilian real was trading around 5.6 per USD in October, its lowest level since April 21st,
despite a softer dollar, amid growing worries of fiscal deterioration amid the introduction of a welfare program that could break the country's spending ceiling. At the same time, doubts about the strength of the Brazilian economic recovery, political woes, as well as growing concerns that inflationary pressures are building up faster than the central bank’s interest rate hikes, continued to weigh on the country's economic outlook. Globally, concerns persist over slowing global growth and higher interest rates sooner than previously expected.
Historically, the Brazilian Real reached an all time high of 770.43 in September of 2020. Brazilian Real - data, forecasts, historical chart - was last updated on October of 2021.
The Brazilian Real is expected to trade at 5.54 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 5.77 in 12 months time.