BRL/USD in 2015
BRL/USD opened 2015 at 2.7 and closed at 3.96, a +46.82% move for the year. The high of 4.16 was reached on September 24, and the low of 2.56 on January 22.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 2.7 | 2.68 | 2.73 | 2.56 | -0.46% |
| Feb | 2.71 | 2.86 | 2.88 | 2.7 | +5.66% |
| Mar | 2.88 | 3.18 | 3.29 | 2.88 | +10.70% |
| Apr | 3.15 | 3.01 | 3.15 | 2.9 | -4.52% |
| May | 3.01 | 3.19 | 3.19 | 2.98 | +5.67% |
| Jun | 3.17 | 3.11 | 3.17 | 3.04 | -1.73% |
| Jul | 3.13 | 3.41 | 3.41 | 3.11 | +8.98% |
| Aug | 3.45 | 3.62 | 3.63 | 3.45 | +4.98% |
| Sep | 3.67 | 3.96 | 4.16 | 3.67 | +7.73% |
| Oct | 4 | 3.84 | 4 | 3.73 | -3.91% |
| Nov | 3.85 | 3.9 | 3.9 | 3.7 | +1.24% |
| Dec | 3.85 | 3.96 | 4.02 | 3.73 | +2.86% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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