Brazil Real to US Dollar Exchange Rate

Picture of Brazilian Real and U.S. Dollar. Brazilian Real drops in exchange rate against U.S. dollar

Picture of Brazilian Real and U.S. Dollar. Brazilian Real drops in exchange rate against U.S. dollar

The U.S. Dollar reaches $3.97 to R$1.00 Brazilian Real in trading this morning. Exchange rates against the dollar have not been this high in 10 years and make it a good time for travel to Brazil from the U.S. and Europe. The Euro is trading at €4.46 to R$1.00 Brazilian real and although this is not an all time high for the Euro, it still makes Brazil an attract travel destination.

As Brazil’s recent credit downgrading by Standard and Poor’s to “junk” and with no rosy outlook in the near future, the exchange rate for the Dollar and Euro will keep Brazil as a good vacation option for stretching your money.

Although Brazil is dealing with high inflation, the exchange rate will offset the high prices tourists have been paying in the recent few years in during off season where prices were so high many people were put off in traveling to Brazil.

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Brazil’s Credit Rating Cut to Negative by Moody’s

Brazilian currency Moody’s Investors Service has cut Brazil’s credit rating to Negative due to slow economic growth and unlikely improvement in the short term, is also warning that it may further cut Brazil’s credit rating as the country’s economy slows. Whoever wins this October’s presidential election in Brazil will face pressure to change the country’s economic policy.

With fiscal policy a hot campaign topic, current Brazilian president Dilma Rousseff has not responded to Moody’s warnings and has indicated that she won’t radically change policy if re-elected. She is facing a strong challenge from presidential candidate Marina Silva, who is looking to cut government spending if elected. Marina Silva would also become Brazil’s first black President if elected.

Aecio Neves, third in the Brazilian presidential polls has said that Moody’s statement is a reminder that Brazil’s social and economic progress is “at risk” due to fiscal indiscipline.

Under Rousseff term, Brazil’s growth has slowed to less than 2 percent per year, added to that a recession in 2014 and increases in government spending leading to an increase in Brazil’s debt burden.

Ibovespa, Brazil’s stock index, closed with losses of close to 1 percent after the Moody’s warning.

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