The news flashed across social media and was picked up by national TV news and the newspapers. It caused much hand-wringing and anxiety – not least as these stories were often accompanied by photographs of supporters of the impeachment of Dilma Rousseff holding signs in 2016 saying: “I want my R$1.99 to the dollar back” – the implication being that the political upheaval caused by these protests had backfired.
In Brazil, the exchange rate matters. The Brazilian middle classes quickly grew accustomed to the heady valuations of 2012 to 2015 (peaking at R$1.53)
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
