Brazil’s Real Pared Weekly Losses on Exports Data
The Brazilian real, which started the week with a bearish movement due to rising concerns regarding the global slump depth, recovered its losses on favorable domestic economic reports.
The Brazilian currency lost against all major traded currencies in the beginning of the week, as government and news agencies statements suggested that the global recession will still be a part of the world economic scenario for longer than predicted, damping demand for emergent markets assets. In the end of the week, a report in Brazil indicated a growth in industrial production for the fifth month in a row and exports were to a
USD/BRL was traded at 1.9510 as of 18:57 GMT still posting a slight loss against the dollar as Monday’s rate was of 1.9465.
If you want to comment on the Brazilian real’s recent action or have any questions regarding this currency, please, feel free to reply below.
Earlier News About the Brazilian Real:
- Brazil's Real Gains on Former Central Banker Comments (2009-07-01)
- Brazilian Real Climbs on Massive IPO Speculation (2009-06-25)
- Brazilian Real World Biggest Loser as Recession Concerns Rise (2009-06-23)
- Brazil's Real on Two-Weeks Low After Weak Economic Data Release (2009-06-18)
- Brazilian Real Demand Rises as Commodities Rally Strengthens (2009-06-05)