The Brazilian real gained today after the earlier decline. The currency fell earlier as President Dilma Rousseff wanted to ease fiscal rules. Such measure will reduce the budget deficit that reached the highest level in more than a decade.
Rousseff submitted a bill, which will allow to discount bigger amount from this year’s primary budget. If Congress passes the legislation, the government will be able to reach the budget target even amid economic slowdown. The real’s volatility remains highest among most traded currencies after the current President won elections last month.
USD/BRL fell by 0.47 percent to 2.5444 as of 14:42 GMT today.
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