Apr 24, 2022 11:53 5 min read
Exchange rate forecasts are famous for putting economists to shame. While predictions about the Brazilian Real — a notoriously volatile currency — are a particular type of sadistic joke. So it’s not much of a surprise that we market economists got them wrong once again.
So far in 2022, the Real has strengthened significantly against most of its peers and the U.S. Dollar. It is up almost 30 percent relative to an index of major emerging market currencies and around 15 percent against the greenback.
Rewind to the beginning of the year, and the median forecast according to…
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