# Local factors weigh more heavily on Brazil’s currency in 2026, BTG says

> BTG Pactual economist Iana Ferrão's study says the Brazilian real's 2026 moves are driven mainly by domestic factors rather than global peer currencies, unlike 2025. The real has depreciated since mid-May, which the bank attributes predominantly to local developments.

- Date: 2026-06-11 · published 2026-06-11T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/12075-local-factors-weigh-more-heavily-on-brazil-s-currency-in-2026-btg-says
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A currency driven by local politics and fiscal concerns is more volatile for Brazilian exporters of feed inputs; a weaker real tends to support Brazilian soy, corn and meal export competitiveness and firm dollar prices for importers.

## 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 | 2024-12-19 | [Why Brazil’s currency is plunging](https://feedsoft.ai/events/27149-why-brazil-s-currency-is-plunging.md) | -0.5% | -2.5% |
| USDBRL | 2024-11-11 | [Brazil's currency weakens amid government delays in announcing new fiscal measures \| Reuters](https://feedsoft.ai/events/27614-brazil-s-currency-weakens-amid-government-delays-in-announcing-new-fiscal.md) | -0.6% | +4.7% |
| USDBRL | 2025-11-18 | [Liquidity squeeze in the U.S. could weigh on Brazilian real](https://feedsoft.ai/events/22155-liquidity-squeeze-in-the-u-s-could-weigh-on-brazilian-real.md) | +1.7% | +2.9% |
| USDBRL | 2018-04-26 | [Brazil Traders Just Made A Huge Bet In Currency Options Market](https://feedsoft.ai/events/65704-brazil-traders-just-made-a-huge-bet-in-currency-options-market.md) | +0.9% | +3.8% |

## Sources

- valorinternational.globo.com: https://valorinternational.globo.com/markets/news/2026/06/11/local-factors-weigh-more-heavily-on-brazils-currency-in-2026-btg-says.ghtml

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