Dollar Climbs to R$ 5.58 Amid Lula’s Remarks and Ptax Tensions

The Brazilian real depreciated significantly against the US dollar on Friday, June 28th. Despite an initial slight decline and the US dollar’s broader weakness against other emerging market currencies, domestic factors drove this shift. In Brazil, exchange rate movements were influenced by the end-of-month Ptax rate formation. President Luiz Inácio Lula da Silva’s comments on […]