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RIO DE JANEIRO, BRAZIL - In the last trading session of the year, on Monday, December 30th, the commercial dollar closed one percent lower, quoted at R$4.0098.

As a result, the US currency ended 2019 with a rise of 3.5 percent, in a year of strong turbulence in the foreign exchange market, which recorded a devaluation of the Brazilian real of close to ten percent. In late November, the dollar reached an all-time high, closing at R$4.24.

The exchange rate fluctuations occurred mainly as a result of the trade war between China and the United . . .

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