Convert EUR to BRL
The EUR/BRL touched a high of 6.6595 on 2 October 2020 - the highest level seen so far this year. The weakest level this forex pair has traded at so far this year was on 2 January 2020, when it touched a low of 4.4985.
The economy of Brazil is heavily dependent on agriculture, and it is one of the leading agricultural commodity producers in the world. Poor weather conditions that impact the production of agricultural products, especially its key exports like sugar cane and coffee, can hamper the contribution of this sector towards the GDP. When agricultural production is hampered, it weakens the economy and the value of the Brazilian real as well.
This exotic cross currency pair offers ample opportunities to generate profits, when traded carefully. A highly volatile pair, the emerging market currency BRL can see sudden moves due to fundamentals, making it a difficult pair to trade for newbie traders.