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Brazil & Southern Cone - August 2016 (ISSN 1741-4431)
Taming the real
What a difference a year makes. Twelve months ago, in August 2015, the Brazilian real’s steep decline against the US dollar began to accelerate. It ended the year down 33% against the dollar. Along with the Argentine peso, the real was the worst performing currency in the world in 2015. As of mid-August, the real is the best performing currency in the world, regaining almost a quarter of its value to trade close to R$3/US$1.
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