Sao Paulo, 12 September (Argus) — The Brazilian real closed at its strongest level to the US dollar since June 2024 on Friday.
The real closed at /$1, according to the Brazilian central bank. That marks about a 7pc strengthening of the real from a year earlier.
The strengthening continues to track overall US dollar weakness, strong prospects for interest rate cuts in the US next week, and steadily-high interest rates in Brazil. The Brazilian currency also hit a 14-month high in August.
Brazil’s headline inflation decelerated to 5.13pc in August from a year before and contracted by 0.11pc from July, the first contraction since September 2022.
By João Curi and Lucas Parolin
