# Brazil's real loses 9% in the week after Lula's re-election, and economists start raising inflation forecasts · Polylog

> Brazil's real fell 9.15% against the dollar in the week after President Lula's October 25 re-election, with the dollar closing at R$5.446, its highest level of 2026. The Ibovespa lost 18.12% over the week, its worst since March 2020. Economists are raising inflation forecasts, with El Niño drought risk to food prices adding to the currency-driven pressure.

- Date: 2026-11-01 · published 2026-11-01T21:32:49.748Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/73674-brazil-s-real-loses-9-in-the-week-after-lula-s-re-election-and-economists-start
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A weaker real raises the cost of imported inputs and makes Brazilian exports cheaper in dollar terms, which can support Brazilian soy and meal sales. Combined with El Niño drought risk to regional harvests, it adds upside pressure on feed costs for buyers relying on Brazilian supply.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2024-09-23 | [Dollar rises more than 1% at the start of a week marked by inflation data in Brazil and the US \| Brasil 247](https://feedsoft.ai/events/28517-dollar-rises-more-than-1-at-the-start-of-a-week-marked-by-inflation-data-in.md) | -1.1% | +3.9% |
| USDBRL | 2026-10-26 | [Brazil’s real sinks after Lula’s re-election victory \| Financial Markets News \| Al Jazeera](https://feedsoft.ai/events/17283-brazil-s-real-sinks-after-lula-s-re-election-victory-financial-markets-news-al.md) | +7.6% | — |
| USDBRL | 2026-09-01 | [Election Angst Fuels Bruising Week in Brazil Markets](https://feedsoft.ai/events/18109-election-angst-fuels-bruising-week-in-brazil-markets.md) | -1.9% | +1.0% |
| USDBRL | 2022-10-31 | [Brazil's real down after Lula wins presidential election; Bolsonaro yet to concede](https://feedsoft.ai/events/39344-brazil-s-real-down-after-lula-wins-presidential-election-bolsonaro-yet-to.md) | -5.8% | -1.1% |
| USDBRL | 2026-10-26 | [Euro falls against dollar; Brazilian real tumbles after Lula election win](https://feedsoft.ai/events/17282-euro-falls-against-dollar-brazilian-real-tumbles-after-lula-election-win.md) | +7.6% | — |

## Sources

- polylog.news: https://polylog.news/2026-11-01/brazil-s-real-loses-9-in-the-week-after-lula-s-re-election-a
- investing.com: https://www.investing.com/news/economy-news/brazil-economists-raise-inflation-rate-forecasts-after-lula-reelection-4994810

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