Today, we talk about how the coronavirus infected Brazil’s currency. A sizable portion of the country says their life improved under Bolsonaro. And tax collection finally goes up in Brazil.
Failed coronavirus response caused Brazilian currency crash
The U.S. Dollar is approaching its lowest level in 27 months, with many in Wall Street swarming with bearish forecasts for the greenback. But not even that has helped the Brazilian Real to gain any ground. As a matter of fact, the Brazilian currency is the worst-performing in the world this year, having lost around 40 percent against the USD since January.
Why the currency is melting down. According to Edward Moya, a market analyst at foreign exchange company Oanda, a failed coronavirus response is one of the main reasons for the continued weakening of the Brazilian currency. “The economic crisis that followed the sanitary emergency forced the Central Bank to keep interest rates at all-time lows — leading foreign investors to pull their assets from the country,” he told The Brazilian Report’s Lucas Berti.
- So far, Brazil has confirmed 4.8 million coronavirus infections (third-highest in the world), and 144,680 deaths (second-highest).
Also this. The government’s flirtation with breaking fiscal responsibility rules has...