:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/MPI5UFMN5BBOXIJDDXP2YW6ZVY.jpg "Brazil: opening rate of the euro today January 16 from EUR to BRL")
The euro is paid at the start 5.52 Brazilian reais on averageso that it represented a variation of 0.06% compared to the 5.52 Brazilian reais on average the previous day.
If we consider the data of the last seven days, the euro note a decrease of 2.16%; On the contrary, over the last year, it still accumulates an increase of 3.92%.
By comparing this data with that of the previous days, it adds five consecutive sessions down. Regarding the volatility of the last few days, it is visibly lower than that accumulated last year, so we can say that it is going through a period of greater stability lately.
Diagnosis of the Brazilian real
The real, or the Brazilian real as it is known internationally, is the legal currency in Brazil and it is the twentieth most traded currency in the world and the second in Latin America, just 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, behind the American and Canadian dollars and the Mexican peso.
One of the episodes that most marked the Brazilian currency was when in 1998 the real underwent a strong speculative attack which caused its devaluation the following year, going from a value of 1.21 to 2 reais per dollar.
Currently, there are 1 and 5 cent copper coins, 10 and 25 cent bronze coins, and 50 cent cupronickel coins. The only real part is bimetallic. It should be noted that in 2005, pennies were discontinued, but they are still legal tender.
In the economic field, like other countries in the region, Brazil had to face the inflation monster which increased to 11% in 2022.
The panorama is complicated by the recent evolution of the country’s politics, since Luiz Inácio “Lula” da Silva assumed a new presidential termthe third of his life, in a context where the economy is showing improvements but the pandemic aid and the increase in social benefits have created a big hole.
According to the latest forecasts of the Economic Commission for Latin America and the Caribbean (Cepal), in 2024 the region will only experience growth of 1.3%, while specifically Brazil it would only increase by three percent.
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