The Brazilian real (BRL) is the official currency of Brazil. The real was introduced in 1994 to replace the cruzeiro real. It is somewhat of an exotic currency and is most commonly traded against the USD.
Brazil has traditionally been a very turbulent economy. Long periods of economic growth are often followed by loose monetary policy and worse. That said, the real has been a growth currency during several periods of its short life, gaining on the USD, falling and then gaining again. During this same period, Brazil has seen large political shifts, exposing many investors to political risk as new governments come in with significantly different platforms.
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