The Brazilian real was the 8th most revalued currency in the world in 2022

The Brazilian real was the eighth most appreciated currency against the U.S. dollar in 2022. Since the beginning of the year, the Brazilian currency has appreciated by 6.9%.

The survey comes from Austin Rating’s chief economist, Alex Agostini. Here is the full report.

The commercial dollar closed this Friday (Oct. 7) up 0.05% at R$5.21. In the week, however, recorded a decline of 3.31%.

The Austin Rating survey uses the dollar rate published by the BC (Central Bank) as a basis.

The Angolan kwanza is the currency with the highest increase in this period (+29.7%).

The Russian ruble and the Armenian dram greatly appreciated this period.

Among the world’s major economies, the Brazilian currency appreciated only less than the Russian ruble (+18.7%).

The study covers 118 countries and the Eurozone, which has lost 13.6% of its value this year. The pound sterling from the United Kingdom lost 17.7% against the U.S. dollar.

Other South American currencies lost value, with Venezuela performing the worst.

Read the list:

Bolivia (-0.6%);
Paraguay (-3.3%);
Chile (-9.5%);
Colombia (-13.3%);
Argentina (-31.1%);
Venezuela (-44.1%).

The Sri Lankan rupee has been the worst performer this year, depreciating by 45%.

The dollar has strengthened as investors are unsure whether to put their money into risky assets.

The U.S. currency is seen as a safe haven in times of turmoil. Global inflation is high and likely to rise further. Countries are taking steps to raise interest rates and control the rise in price indexes.

In addition, the global economy is slowing.

China’s economy has slowed, and the war between Russia and Ukraine impacts global GDP (gross domestic product).

STOCK MARKET REACTS TO THE ELECTIONS

Ibovespa, the main index of the B3 (São Paulo Stock Exchange), closed at 116,375 points on Friday (7/10/2022). In the last trading session, it recorded a decline of 1.01%. For the week, it rose 5.76%.

In the United States, the Dow Jones fell 2.11% on Friday. The S&P 500 fell 2.80%.

Foreign investors had placed R$4.3 billion on the stock market as of Wednesday (Oct. 5). Year to date, the balance is positive at R$74.3 billion.

Considering initial public offerings (IPOs) and follow-ons, the result is positive at R$91.9 billion.

The 5-year CDS (Credit Default Swap), which measures confidence in the economy, registered 277 points on Friday (Oct.7, 2022). A year ago (Oct.7,2021) it was 202.

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