This is Brazil by the Numbers, a weekly digest of the most interesting figures tucked inside the latest news about Brazil. Random numbers that help explain what is going on in Brazil. This week: the Brazilian currency reaches record lows against the U.S. Dollar, formal jobs creation is set to reach the best year since 2014, listed companies profit more, neo-Nazi groups proliferate in Brazil, and legendary soccer player Pelé celebrates the 50th anniversary of his most memorable goal.
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BRL 4.20 at 4.20
The clock flashed 4.20 pm when Brazil’s currency plunged to its all-time lowest nominal value against the U.S. Dollar: fittingly, BRL 4.20. The Brazilian Real is now one of the worst-performing emerging currencies this year—only faring better than the Chilean Peso and Argentine Peso. As bad as it may seem, we explained in a November 15 story that, when taking inflation into account, the currency exchange rate is not even close to the levels seen in 2002. Also, in a November 20 story, we showed that, unlike in the past, the devaluation of Brazil’s currency doesn’t necessarily mean the country is in a bad political and economic place—rather...