
Brazil's real fell to a three-month low of 5.73 per dollar on Tuesday and closed at 5.6662, its weakest close since November 2020. The central bank sold more than $2 billion in spot FX on the day, and over $5 billion since the previous Thursday, without reversing the slide.
Investors were worried about the government's fiscal position.
A weaker real makes Brazilian soybeans, corn and meal cheaper in dollar terms, which encourages farmers and exporters to sell and can pressure world feed grain and meal prices. Central bank intervention has limited effect when the driver is fiscal, so the currency weakness may persist.
После 301 прошлых событий (события «макро»: бычий) Бразильский реал (BRL за USD) в среднем изменился на +0,4 % за 5 сессий (57% вверх; средняя половина от -1,2 % до +1,7 %) и на +1,0 % за 20.
Изменения бенчмарка каждого товара относительно последнего закрытия до события. Исторические данные объединяют прошлые события того же типа; они описывают случившееся, а не то, что произойдёт. Не является инвестиционной рекомендацией.
Real hit a three-month low on fiscal worries despite heavy central bank dollar sales, which shows strong sentiment-driven selling pressure that plausibly carried into the March 4 move, though it is dated a day earlier and the exact size of the 3.34% move is not explained.