Brazilian Real (BRL)

The Brazilian Real (BRL) is the official currency of Brazil, the largest economy in South America. It is one of the most actively traded emerging market currencies in the world and is heavily influenced by commodity prices (particularly iron ore and soybeans), Brazilian monetary policy, and global risk sentiment. The BRL is a free-floating currency managed by the Central Bank of Brazil, which frequently intervenes in forex markets to curb excessive volatility. USD/BRL is the primary pair traded in the forex market.