Convert BRL to USD
The BRL/USD currency pair experiences significant volatility on the release of important economic data from Brazil and the US, including GDP, inflation, trade balance, exports, retail sales, consumer confidence, unemployment rate and manufacturing PMI.
Both BRL and USD see fluctuations in value whenever the Central Bank of Brazil and the Federal Reserve announce changes to their monetary policy and interest rates. For instance, if the Fed announces a hike in interest rates or tightens its monetary policy, the USD strengthens, causing BRL/USD to trade bearish, and vice versa.
BRL/USD touched a high of 5.9922 on 8 May 2020. This was the strongest level this forex pair traded at during 2020.