The crisis may spread to other European nations, including Ireland, Portugal, Spain and Italy.īut this was only temporary. The real declined the most in almost a year and a half, primarilyīased upon concerns about Greece’s financial crisis and the worry that Make Brazilian exports less costly on the world market. The Central Bank of Brazil has held numerous spot auctions to buy U.S.ĭollars in their efforts to weaken the real and, thereby, While some do not see the central Bank raising interest rates again in 2011, there are many who expect at least one more raise of 0.25% before the end of 2011 if inflation continues. Since then, theīrazilian Central Bank has raised the benchmark interest rate to 12. 7205 in AprilĢ010, two days after the Brazilian Central Bank raised the benchmark interest The strengthening of the real and the weakening of the dollar. 5310, its lowest level since way before 2008 when the global financial crisis began.Ĭentral Bank raised interest rates in the country, which had as its result By late July, 2011, the dollar has fallen as low as R$1. However, 2011 has thus far been devastating to the dollar. 80, occasionallyĭipping below the (BRL) R$1. dollar generally maintained a day-to-day exchange dollar ( USD) has fluctuatedįrom a low of (BRL) R$1. Month period, the exchange rate of the U.S. Lost a whopping 33+% of its value during 2009 alone. Impressive gains against the US dollar of any currency in the world andĭollar was near an eight year low against the real, having However, since then, the Brazilian real has made the most Point, in mid August, 2000, dropped as low as R$ 4. Since then, it has fluctuated widely and at one 1994, the exchange rate of the real was essentially on a
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