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2025-09-16 21:53:20
[Brazilian Real Exchange Rate Hits Over One-Year High] ⑴ The Brazilian real rose to 5.3 reais per dollar in September, its strongest level since June 2024. ⑵ Brazil's record-strong labor market provides room for maintaining restrictive monetary policy, while the US dollar fell to a multi-month low. ⑶ The moving quarterly unemployment rate fell to 5.6% in July, the lowest level since records began in 2012. The number of unemployed people fell to 6.1 million, while the number of employed people reached a record 102.4 million. ⑷ Inflation rose 5.13% year-on-year in August, below expectations, helping to reduce the inflation risk premium in long-term yields. ⑸ Brazil's benchmark interest rate, the Selic, remained at 15%, maintaining its positive real interest rate differential with major economies. ⑹ The US dollar fell to a more than two-month low as markets expected the Federal Reserve to cut interest rates by 25 basis points this week and continue easing measures throughout the year, further easing external pressure on the real.
