# Brazil's real slumps on fiscal concerns, Petrobras slides

> Brazil's real hit six-month lows and Brazilian stocks fell 3.4% after lawmakers signaled openness to a welfare program that could breach the spending ceiling. The central bank intervened in the spot currency market for the first time since March.

- Date: 2021-10-19 · published 2021-10-19T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/44780-brazil-s-real-slumps-on-fiscal-concerns-petrobras-slides
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Fiscal worries weaken the real, which can make Brazilian grain and meal exports cheaper and more competitive on world markets. Higher inflation and slower growth also affect domestic feed demand.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2021-02-09 | [Brazil's real leads Latam FX losses on fiscal concerns - Markets - Business Recorder](https://feedsoft.ai/events/48852-brazil-s-real-leads-latam-fx-losses-on-fiscal-concerns-markets-business-recorder.md) | +1.2% | +9.3% |
| USDBRL | 2024-11-28 | [BRL: Real hits four year low on fiscal concerns – ING — Elev8](https://feedsoft.ai/events/27616-brl-real-hits-four-year-low-on-fiscal-concerns-ing-elev8.md) | +1.7% | +5.6% |
| USDBRL | 2022-08-16 | [Brazil's real slumps 1% as presidential campaigns begin \| Financial Post](https://feedsoft.ai/events/40232-brazil-s-real-slumps-1-as-presidential-campaigns-begin-financial-post.md) | +1.7% | +2.1% |
| USDBRL | 2024-08-30 | [Brazil Real Swings on Fiscal Woes, Central Bank Interventions](https://feedsoft.ai/events/29017-brazil-real-swings-on-fiscal-woes-central-bank-interventions.md) | -0.8% | -3.6% |
| USDBRL | 2020-09-30 | [Mexican peso shines, Brazil's real flat amid fiscal worries](https://feedsoft.ai/events/51323-mexican-peso-shines-brazil-s-real-flat-amid-fiscal-worries.md) | -2.3% | +1.3% |

## Sources

- reuters.com: https://www.reuters.com/article/emerging-markets-latam/emerging-markets-brazils-real-slumps-on-fiscal-concerns-petrobras-slides-idUSL1N2RF21V/

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