Real closes at 13 year high

The Brazilian Real closed at 13 year high at R$3.8585 against the USD.

For the week the Brazilian currency devalued 7.62%, for the year at 45.07% and for the 12 months at 72.06%.

The currency has taken a beating caused basically by the lack of political stability, besides the economic problems caused by poor economic and fiscal policy during 2014.

The valuation of assets in USD terms is becoming very attractive.