Robin Brooks states that the value “reflects Brazil’s gradual shift towards current account surpluses”

The chief economist of the IIF (English acronym for Institute of International Finance) and former IMF (International Monetary Fund) economist, Robin Brooks, said in his profile on X (former Twitter) that the dollar would have a fair value of R$4.50.

According to Brooks, the value “reflects Brazil’s gradual shift towards current account surpluses”. The publication was made on Monday (January 1, 2024). He was a strategist at the multinational bank Goldman Sachs and a senior economist at the IMF (International Monetary Fund).

Still according to Robin Brooks, the “Brazil’s transformation into a country with a huge trade surplus is unique among emerging markets and will end up strengthening the real”. He stated that, in his view, the projection “is coming”.

On Tuesday (Jan 2) the dollar rose 0.89% to R$ 4.90. According to the Focus Bulletin released by the BC (Central Bank), economists consulted by the Brazilian monetary authority expect the American currency to reach R$5.00 by the end of 2024.

With information from Investing


Leave a Reply

Your email address will not be published. Required fields are marked *