Brazil's devaluation hits all-time high exchange rate

Friday, November 29th 2024 - 10:24 UTC

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The US dollar fell an iota short of crossing the R$ 6 barrier after measures announced by the Brazilian Government of President Luiz Inácio Lula da Silva raised uneasiness in South America's largest country Thursday. The local currency has fallen 23.4% this year and 3.36% this week alone. Read full article

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Pugol-H
I seem to recall, this is how it started in Argentina.

No doubt Braz will say ‘no, no everything is actually rosy, however we shall see how this progresses.

A rapidly devaluing currency is generally followed by an equally rapid increase in inflation.
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