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Brazil's central bank chief said external market developments have not affected the real's foreign exchange performance or the balance of risks. The real has appreciated about 8% so far this year against the US dollar, supported by trade flows from strong agribusiness exports and improved risk perception after the government proposed new fiscal rules.
A stronger real makes Brazilian soybean, corn and meal exports pricier in dollar terms, which can slightly weigh on Brazilian export competitiveness and support dollar-denominated feed prices only marginally.
reuters.comNov 17, 2023After 213 past bearish macro events, Brazilian Real (BRL per USD) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +0.9%), and +0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
