Brazil Real to Recover With Foreign Investments

The Brazil Real (BRL) is set to recover some ground against the US Dollar (USD) as soon as foreign investors are confident in the country’s economy, according to the Brazilian Minister of Economy Paulo Guedes, Reuters reported.

“When will the exchange rate go down? When there is success to attract foreign investments, when they finally come in to help us in infrastructure, concessions and privatizations.”

“The exchange rate will go down as soon as foreign investment returns en masse, which will guarantee that Brazil has finally come back.”

“Brazil is coming out of recession. Job creation is so strong that it may be difficult to maintain that pace.”

The BRL has lost about 30% of its value against the USD since the beginning of 2020.