# Brazil Real Plunges Against Dollar After Report President Temer Encouraged Bribes | Fox Business

> The Brazilian real weakened about 6.2% to 3.31 per dollar after a newspaper reported that President Temer encouraged payments to a jailed former congressman. Mr. Temer has denied wrongdoing, and the report raised doubts about the government's ability to pass key economic reforms.

- Date: 2017-05-18 · published 2017-05-18T12:00:00.000Z
- Category: policy · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/4358-brazil-real-plunges-against-dollar-after-report-president-temer-encouraged
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Uncertainty over reforms and the currency's sharp fall make Brazilian export commodities cheaper for foreign buyers, which can pressure global soybean and meal prices.

## Read by commodity

- SBM: bearish ▼
- USDBRL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDBRL | 2017-05-18 | 5 | +7.4% | 3.4 | Report that Temer encouraged hush-money payments triggered a ~6% real plunge to 3.31 per dollar and raised doubts over reform passage, directly driving the 5-day BRL move ending May 18. |
| USDBRL | 2017-05-18 | 1 | +9.1% | 12.4 | Reports that Temer encouraged hush-money payments triggered the real's plunge on 2017-05-18, a sentiment and political-risk shock that cast doubt on reform passage and drove capital out of BRL. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2021-07-07 | [Brazilian Real Stalls on Plans for Dividend Tax Hike, Finds Support on Data](https://feedsoft.ai/events/9911-brazilian-real-stalls-on-plans-for-dividend-tax-hike-finds-support-on-data.md) | -0.5% | +1.1% |
| USDBRL | 2021-03-02 | [Brazilian stocks, currency fall as tax hikes spook investors - Markets - Business Recorder](https://feedsoft.ai/events/12206-brazilian-stocks-currency-fall-as-tax-hikes-spook-investors-markets-business.md) | +2.9% | +3.7% |
| USDBRL | 2025-05-22 | [(BRL/USD) Real Sells Off as Brazil Taxes Remittances to Boost Budget - Bloomberg](https://feedsoft.ai/events/24891-brl-usd-real-sells-off-as-brazil-taxes-remittances-to-boost-budget-bloomberg.md) | -0.2% | -2.7% |
| USDBRL | 2024-11-28 | [(USD BRL) Brazil’s Real Drops to All-Time Low as Spending Cuts Fall Flat - Bloomberg](https://feedsoft.ai/events/12461-usd-brl-brazil-s-real-drops-to-all-time-low-as-spending-cuts-fall-flat-bloomberg.md) | +1.7% | +5.6% |
| USDBRL | 2025-01-22 | [Brazilian government officials renew fiscal balance pledge](https://feedsoft.ai/events/26713-brazilian-government-officials-renew-fiscal-balance-pledge.md) | -2.8% | -5.2% |
| SBM | 2024-01-23 | [China to Encourage Hog Farmers to Reduce Capacity After Price Slump - Pork Business](https://feedsoft.ai/events/32125-china-to-encourage-hog-farmers-to-reduce-capacity-after-price-slump-pork.md) | -0.4% | -3.4% |
| SBM | 2025-01-23 | [China’s yuan slips on worries over Trump tariff plans, pre-holiday dollar demand - Markets - Business Recorder](https://feedsoft.ai/events/9598-china-s-yuan-slips-on-worries-over-trump-tariff-plans-pre-holiday-dollar-demand.md) | -1.5% | -5.6% |
| SBM | 2020-11-09 | [Europe wants to limit imports of soy from Brazil - News Cereals \| Boerenbusiness. Nl](https://feedsoft.ai/events/50189-europe-wants-to-limit-imports-of-soy-from-brazil-news-cereals-boerenbusiness-nl.md) | +1.5% | +1.1% |

## Sources

- foxbusiness.com: https://www.foxbusiness.com/features/brazil-real-plunges-against-dollar-after-report-president-temer-encouraged-bribes

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