The Brazilian real traded around 5.1 per USD, its strongest level since mid-June, as optimism over a US stimulus package and the roll-out of COVID-19 vaccines globally boosted appetite for riskier currencies. However, a second wave of infections and the country's public finances continue to worry investors. Meanwhile, latest data showed the country's current account balance shifted to a mild surplus in November of 2020, compared to a deficit in the same period a year ago, although below market expectations. At the same, foreign direct investment continued to fall considerably but less than estimated.
Historically, the Brazilian Real reached an all time high of 770.43 in September of 2020. Brazilian Real - data, forecasts, historical chart - was last updated on December of 2020.
The Brazilian Real is expected to trade at 5.16 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 5.32 in 12 months time.