Brazilian Real Falls as Finance Minister Not Named Yet

The Brazilian real fell as President Dilma Rousseff has not yet announced a person who will take the finance minister seat. This added to concerns that Brazil will struggle to overcome problems that its economy has.

The Brazilian currency rallied on Friday due to reports that former Treasury Secretary Joaquim Levy would be named the new finance minister. Yet there are rumors that the government wants to see a different person for the position, and the absence of an announcement makes traders nervous. As a result, the real is the most volatile currency on the Forex market after the Russian ruble.

USD/BRL was up from 2.5220 to 2.5369 as of 14:55 GMT today after reaching the low of 2.5028 intraday.

If you have any questions, comments or opinions regarding the Brazilian Real,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *