Brazilian Real (BRL)

Brazil — Banco Central do Brasil

Brazilian real — high-yielding Latin American currency closely tied to commodities and fiscal policy.

FX Session:
New York
BRL/USD
0.20137
BRL/USD Exchange Rate
Economic Indicators
Indicator Latest Previous Change Date
Policy Rate 14.75 15.0 -0.25 2025-05-08
Inflation 5.32 5.35 -0.03 2025-05-31
Gdp 0.178 0.188 -0.01 2025-06-30
Unemployment 6.2 5.8 +0.40 2025-05-31
Trade Balance 6.437 5.247 +1.19 2025-05-31
Banco Central do Brasil Press Releases

No press releases available.

About the Brazilian Real (BRL)

The Brazilian real (BRL) is the official currency of Brazil and the most actively traded Latin American currency. It is a high-yielding, high-beta EM currency sensitive to commodity prices, domestic politics, and global risk sentiment.

Banco Central do Brasil: monetary policy framework

The Banco Central do Brasil (BCB) sets the Selic policy rate through its Copom (Monetary Policy Committee) at eight scheduled meetings per year. Brazil targets 3% inflation with a ±1.5% tolerance band, and the BCB publishes a quarterly Inflation Report.

What moves the BRL?

  • Selic rate decisions and Copom meeting minutes.
  • Brazil IPCA inflation and IPCA-15 mid-month preview.
  • Iron ore, soybean, and crude oil prices.
  • Fiscal-framework news and primary balance trajectory.
  • Global risk sentiment and EM currency flows.
  • BCB FX intervention and credit-line auctions.

Key data and events to watch

  • Selic rate decision and Copom minutes.
  • Monthly IPCA inflation prints.
  • Quarterly Inflation Report.
  • Fiscal-policy announcements from the Ministry of Finance.
  • USD/BRL spot and BCB intervention auctions.

Frequently asked questions about the Brazilian Real

What inflation target does Brazil follow?
Brazil targets 3% IPCA inflation with a ±1.5 percentage-point tolerance band. The target was previously gradually reduced from higher levels and is set by the National Monetary Council (CMN).
What is the Selic rate?
The Selic is Brazil's overnight interbank rate, anchored by the BCB's monetary-policy decisions. It serves as the country's main policy rate and the benchmark for many domestic loans and bond yields.
Why is the Brazilian real considered high-beta?
BRL is influenced by commodity exports (iron ore, soy, oil), the Selic rate (one of the highest in major EM), domestic fiscal-policy headlines, and shifts in global risk sentiment, all of which can produce large daily moves.
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