# Brazil's currency weakens amid government delays in announcing new fiscal measures | Reuters

> Brazil's real fell about 1% against the dollar on Monday after the Lula administration postponed spending-containment measures. The currency is down over 16% for the year.

- Date: 2024-11-11 · published 2024-11-11T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/27614-brazil-s-currency-weakens-amid-government-delays-in-announcing-new-fiscal
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A weaker real encourages Brazilian farmers to sell soybeans and corn for export, adding supply pressure on world feed grain and meal prices.

## Read by commodity

- SBM: bearish ▼
- CORN: bearish ▼
- 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 | 2023-01-09 | [Brazil’s Real Weakens Following Attacks on Government Buildings](https://feedsoft.ai/events/37982-brazil-s-real-weakens-following-attacks-on-government-buildings.md) | -3.0% | -1.0% |
| USDBRL | 2016-11-01 | [Brazil, Mexico currencies weaken after strong U.S. data](https://feedsoft.ai/events/11054-brazil-mexico-currencies-weaken-after-strong-u-s-data.md) | +1.0% | +6.9% |
| USDBRL | 2024-08-13 | [Brazil's central bank had no reason to intervene in FX amid 'accelerated weakening'](https://feedsoft.ai/events/11942-brazil-s-central-bank-had-no-reason-to-intervene-in-fx-amid-accelerated.md) | -1.8% | +2.6% |
| USDBRL | 2022-11-21 | [Back in Brazil, Lula faces tough choices in forging new government](https://feedsoft.ai/events/38886-back-in-brazil-lula-faces-tough-choices-in-forging-new-government.md) | -0.1% | -1.2% |
| SBM | 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) | +2.8% | +4.4% |
| SBM | 2023-01-09 | [Brazil’s Real Weakens Following Attacks on Government Buildings](https://feedsoft.ai/events/37982-brazil-s-real-weakens-following-attacks-on-government-buildings.md) | +1.7% | -1.2% |
| SBM | 2024-08-13 | [Brazil's central bank had no reason to intervene in FX amid 'accelerated weakening'](https://feedsoft.ai/events/11942-brazil-s-central-bank-had-no-reason-to-intervene-in-fx-amid-accelerated.md) | -2.6% | -0.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/brazils-currency-weakens-amid-government-delays-announcing-new-fiscal-measures-2024-11-11/

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