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247 – Chief economist at the International Finance Institute, Robin Brooks, said that a dollar rate of 4.50 Brazilian reals was “coming” due to the high trade surpluses achieved by Brazil in recent years.
The economist also states that positive current account data is strengthening the riyal. “We are still waiting for the dollar/real to reach our fair value of 4.50, which reflects Brazil’s gradual shift towards current account surpluses,” he wrote in a post on the social media network
The spot dollar ended 2023 down 8.08% against the real, the largest annual decline since the 17.5% drop in 2016. By the end of 2024, the dollar is expected to reach BRL5.00, according to Reuters. reconnaissance.
We are still waiting for the USD/Real to reach the fair value of 4.50, which reflects Brazil's gradual shift towards current account surpluses. Brazil becoming a country with a huge trade surplus is unique among emerging markets, and would ultimately strengthen the real. We have $/R$4.50 coming…
