Brazilian Real Declines on Central Bank Desperate Measure
The Brazilian real has been the best performing currency among the 16 more traded in foreign-exchange markets this year, and after a central bank measure to tax foreign investment on stocks and bonds to curb the currency’s rally, the real fell today.
Brazilian stocks had the worst performance in 4 months today after the desperate measure was taken by the national central bank in order to stop the currency gains, which are affecting national products competitiveness in the global trading scenario. The real fell, despite the fact analysts consider the trend short lived.
USD/BRL closed at 1.7590 after opening at 1.7190 today.
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.
