Foreign Exchange Rate in Brazil Faces High Volatility

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The U.S. dollar depreciated slightly on Wednesday, August 26th in Brazil, after two days of extreme volatility due to the economic turmoil caused by the instability of major stock markets around the world. The foreign exchange rate in Brazil closed on Wednesday at R$3.601/US$ after registering on Tuesday the lowest value in twelve years, of R$3.6084/US$.

At foreign exchange houses in Rio de Janeiro and São Paulo, however, the U.S. currency was being sold above R$4.00/US$. Despite the . . .

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