Brazilian Real Reaches Lowest Level Against US Dollar Since 1994

For Brazil's Finance Minister, Eduardo Guardia, the recent appreciation of the dollar in Brazil is due to international factors, of which the government has no control.

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – The Brazilian real devaluated again on Thursday against the U.S. dollar, with the North American currency registering an appreciation of 1.21 percent during the day and closing at R$4.20/US$1, the highest level since the creation of the Real Plan in 1994.

The highest foreign exchange rate before Thursday had been in January of 2016, when Brazil’s real closed at R$4.16/US$1.

Despite the depreciation of the local currency, Brazil’s Finance Minister said the government will not take additional measures . . .

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