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The Brazilian real jumped approximately 5% against the dollar in today’s trading, supported by the progress of right-wing candidate Flávio Bolsonaro in the first round of the presidential elections, where he secured 47% of the votes compared to 45% for leftist candidate Lula da Silva. This has led to expectations of implementing financial reforms that include spending cuts and reducing the budget deficit. Since the beginning of 2026, the real has appreciated around 10% against the dollar, making it one of the best-performing emerging market currencies this year, with the main stock index rising by 8%. There are also expectations that the central bank will cut interest rates following improvements in financial conditions, although approval from Parliament will be necessary to enact the reforms.
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