# Brazil: Stocks dive, currency closes at new record low - The Business Times

> The Sao Paulo stock exchange closed down 13.9% on March 16, 2020, and the real weakened past 5.00 per dollar for the first time. The Ibovespa had fallen 27% since March 6 amid global pandemic panic and the US Fed's rate cut to near zero.

- Date: 2020-03-16 · published 2020-03-16T12:00:00.000Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/11020-brazil-stocks-dive-currency-closes-at-new-record-low-the-business-times
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

The record-low real raises import costs for Brazil and makes Brazilian soybean and corn exports cheaper in dollar terms, which can pressure global prices. Weaker domestic demand expectations add to the downside risk.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2024-12-16 | [Brazil currency hits record low amid ongoing fiscal woes](https://feedsoft.ai/events/27145-brazil-currency-hits-record-low-amid-ongoing-fiscal-woes.md) | +0.3% | -0.2% |
| USDBRL | 2018-05-22 | [brazil-currency-weakness-halts-the-interest-rate-cuts](https://feedsoft.ai/events/9714-brazil-currency-weakness-halts-the-interest-rate-cuts.md) | +0.5% | +0.6% |
| USDBRL | 2018-06-06 | [Brazilian currency drops against the US dollar \| AP News](https://feedsoft.ai/events/5378-brazilian-currency-drops-against-the-us-dollar-ap-news.md) | -2.7% | +2.7% |
| USDBRL | 2021-02-09 | [Brazil's real leads Latam FX losses on fiscal concerns - Markets - Business Recorder](https://feedsoft.ai/events/48852-brazil-s-real-leads-latam-fx-losses-on-fiscal-concerns-markets-business-recorder.md) | +1.2% | +9.3% |
| USDBRL | 2021-01-22 | [Latam FX falls as dollar rises, Brazil real lags peers for the week - Markets - Business Recorder](https://feedsoft.ai/events/49387-latam-fx-falls-as-dollar-rises-brazil-real-lags-peers-for-the-week-markets.md) | +0.4% | +0.3% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/brazil-stocks-dive-currency-closes-new-record-low

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.