Brazilian Real: Dollar has day of relief after stress, but remains above R$ 5.20 (July 20)
RIO DE JANEIRO, BRAZIL – After a very volatile morning, the dollar calmed down against the real, erasing part of yesterday’s rise, when an environment of risk aversion dominated global markets.
At the end of the day, the dollar traded at R$ 5.2307, down 0.37% in the spot market. The recovery of the Brazilian currency is in line with similar movements in other emerging currencies, but on a day when the dollar strengthened against the major currencies, which limited the appreciation of the exchange rate here.
From the minimum to the maximum of the day, the American currency differed by R$ 0.09, showing the volatility on Tuesday. After rising by more than 2% yesterday, the dollar again appreciated against the real in the first phase of business, but the momentum of the American currency lost strength in the late morning.
Yesterday, the real was the currency that suffered the most from the rise of the dollar, showing a much worse performance than its peers. Around 5 p.m., the dollar fell 0.47% against the Russian ruble, weakened 0.62% against the Indian rupee, and fell 0.26% against the Chilean peso. However, the dollar appreciated against some emerging markets, such as the Mexican peso (+0.58%), the South African rand (+0.63%), and especially the Colombian peso (+1.73%).
The DXY index, which measures the dollar’s performance against a basket of six other major currencies, spent the day rising and remained above 93 points for much of the session.
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