The Brazilian real fell today as US budget impasse led to nervousness among Forex traders and unwillingness to buy riskier assets of emerging economies. The currency was soft despite the efforts of the central bank.
The US debt ceiling problem continued to affect the market sentiment negatively and this makes higher-yielding currencies weaker, including the real. To address the issue, the central bank keeps in place the $60 billion intervention program to bolster the currency and rein inflation. Still, the real was weakest among most-traded currencies after Mexican peso this week.
USD/BRL rose from 2.2398 to 2.2564 as of 17:16 GMT today after rising to 2.2633 intraday.
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