U.S. Dollar Closes at Lowest Value in 19 Months in Brazil

Not even the possible decision by U.S. Fed to raise U.S. interest rates helped the North American currency in Brazil on Wednesday, which closed at R$3.096/US$1.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – On a seemingly calm day in the financial market, the U.S. dollar depreciated against the Brazilian real to its lowest value in more than nineteen months falling below R$3.10/US$1. The depreciation was influenced by both foreign and domestic news.

The U.S. dollar closed Tuesday, February 14th at R$3.096/US$1, down by 0.45 percent, its lowest value since July of 2015.

On the domestic front Brazil’s Central Bank (BC) decision to sell US$300 million in traditional currency swap contracts . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?