LatinNews Regional Monitor: Brazil & Southern Cone - 27 November 2019

* The Brazilian real has reached an all-time low value against the US dollar, closing the day at R$4.24/US$1 yesterday (26 November). Buoyed by external factors, as well as internal factors such as Brazil’s benchmark interest rate (Selic) being at a historical low of 5%, the US dollar has appreciated 5.75% against the real in November so far, reaching several record highs in the past week. Brazil’s Economy Minister Paulo Guedes has said that he is not preoccupied with the weak local currency, however, the central bank (BCB) decided to intervene yesterday as the real sunk to R$4.28/US$1, selling US dollars from its international reserves in the swap market twice.

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