Dollar trades below R$5 for the first time in a year but then rises

Devaluation comes ahead of monetary policy decisions in Brazil and the United States. In the foreign exchange market in 2021, the real has been the best performer among international currencies,against the dollar. 

RIO DE JANEIRO, BRAZIL - The dollar posted a sharp decline against the Real (R$) in early trading on Wednesday, June 16, falling below 5 reais for the first time in more than a year. After reaching the minimum of R$4.994 at 1:30 p.m., it stabilized and then rose to R$5,06 at the close.

The depreciation of the U.S. currency comes before the decision of monetary policy in the United States and Brazil. With the prospect that the U.S. Federal Reserve will keep interest rates near zero and the Brazilian Monetary Policy Committee . . .

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