The euro fell below par against the dollar on Wednesday (13) for the first time in nearly two decades. However, Michael Viriato, chief strategist at Casa do Investidor, in an interview with CNN stated that the “impact of the devaluation of the euro is small for Brazil”.
On Tuesday (12), for the first time in 20 years, the exchange rate between the euro and the US dollar reached parity – that is, the two currencies had the same value.
The economist explains that “in the trade balance surplus, that is, in import and export transactions in Brazil, most of it is traded in dollars, so we have little effect from the euro”.
For the year, the Brazilian trade balance totaled a surplus of US$ 34.246 billion, and “only 10% is in euros; thus, the impact is small”, highlights the specialist.
* Under supervision of Thiago Felix
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
