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The Brazilian real strengthened to as much as 4.7663 per dollar on March 24, its highest level since March 2020. The currency has risen more than 16% year to date, the largest gain among 31 major currencies.
Brazilian stocks have also rallied strongly in dollar terms, drawing foreign inflows.
A stronger real makes Brazilian exports priced in dollars less competitive for buyers paying in reais, while a firmer real can ease local feed import costs. Commodity-driven inflows reflect high commodity prices supporting Brazil's export economy.
bloomberg.comDavison SantanaMar 24, 2022After 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.
