USD/BRL explained: the US dollar against the Brazilian real

• USD
• BRL

What USD/BRL is

USD/BRL shows how many Brazilian reals (BRL) it costs to buy a US dollar (USD). The US dollar is the base currency and the real is the quote currency. When the quote rises, the dollar has gained against the real. When it falls, the real has gained.

The pair is an exotic pair: a major currency paired with an emerging-market currency. Exotics usually trade less than the majors. Spreads are often wider, swaps can be higher, and prices can jump between sessions. For how exotics differ from majors and minors, see Majors, minors, exotics.

Leveraged forex and CFD trading can lose money fast, and an exotic pair like USD/BRL can move sharply on a single headline.

How to read the quote, pips and pip value

A quote has a bid (the price you sell at) and an ask (the price you buy at). The gap between them is the spread, which is your cost of opening a trade.

A pip is the standard step used to measure price changes. Brokers often show an extra digit beyond the pip, called a pipette or fractional pip. Check the exact digits and pip size in the symbol specification in your platform, because they can differ between brokers.

Pip value is how much a pip move is worth for your position size:

• Because BRL is the quote currency, the pip value is first calculated in reals: pip size multiplied by the number of units in your position.
• To see it in US dollars, divide that amount by the current USD/BRL rate.
• If your account is in another currency, it is converted again into that currency.

The pip value in dollars changes as the rate moves. Use the calculator below instead of a fixed figure.

What moves the US dollar side

• Fed policy and the dot plot. The Federal Reserve sets US interest rates. The "dot plot" shows where its members expect rates to go. A shift in rate expectations often moves the dollar against most currencies, including the real.
• US jobs (NFP) and CPI. Non-Farm Payrolls (monthly US employment data) and the Consumer Price Index (inflation) change expectations for Fed decisions.
• Treasury yields. Higher US bond yields can attract money to the dollar and away from emerging markets.
• Global risk appetite. When investors avoid risk, they tend to sell emerging-market currencies such as the real and buy the dollar. When they are willing to take risk, the opposite often happens.

What moves the Brazilian real side

• BCB and the Selic rate. The Banco Central do Brasil sets the Selic, Brazil's policy rate. Brazilian rates have often been far above US rates, which attracts carry trades: borrowing in a low-rate currency to hold a high-rate one. Carry flows can support the real, but they can unwind quickly when risk appetite drops.
• Commodity exports. Brazil exports soybeans, iron ore, oil and other raw materials. Commodity prices and demand from large buyers can affect the real.
• Fiscal news. Government budgets, spending rules and debt concerns are closely watched. Doubts about fiscal discipline have often weakened the real.
• Domestic politics. Elections and policy changes can cause sharp moves.

For a general method of reading these drivers, see Fundamental analysis.

Liquidity, sessions and spreads

USD/BRL is most active when Brazilian and New York markets are open at the same time. Outside those hours, especially during the Asian session, liquidity is usually thinner and spreads tend to widen.

Spreads can also widen around:

• the session open and close, and the daily rollover,
• US data releases and Fed or BCB decisions,
• Brazilian fiscal or political headlines.

Weekend gap risk: news can arrive while the market is closed. The pair may then open far from Friday's close, and stop orders can be filled at a worse price than set. See Risk management.

Swaps: holding a position overnight carries a swap, which reflects the interest-rate difference between the two currencies. With a wide rate gap, swaps on exotics can be large. Details are on Swap fees.

USD/BRL at Exness: what to check

We have not confirmed from Exness sources that USD/BRL is listed as a trading instrument. Before trading, check in your platform's symbol list whether the pair is available on your account type. If it is, also check the specification there: contract size, digits, spread, swap, margin and trading hours.

What Exness sources do state, at account level:

• BRL is listed among the Standard account currencies (AED, BND, EUR, INR, KZT, OMR, THB, XOF, ARS, BRL, GBP, JOD, MAD, PHP, UAH, ZAR, AUD, CAD, GHS, JPY, MXN, PKR, UGX, MBT, AZN, CHF, HKD, KES, MYR, QAR, USD, BDT, CNY, HUF, KRW, NGN, SAR, UZS, BHD, EGP, IDR, KWD, NZD, SGD, VND). This is the currency the account balance is held in, not a trading instrument.
• For forex, orders opened from 15 minutes before to 90 seconds after high-impact news are subject to higher margin requirements, with forex leverage during that period at 1:200 (0.5%).
• Margin call and stop-out levels by account: Standard Cent: margin call 60%, stop out 0%; Standard: margin call 60%, stop out 0%; Pro: margin call 30%, stop out 0%; Raw Spread: margin call 30%, stop out 0%; Zero: margin call 30%, stop out 0%.
• Exness says Algeria, Azerbaijan, Bahrain, Bangladesh, Brunei, Chad, Comoros, Côte d'Ivoire, Djibouti, Egypt, Indonesia, Iraq, Jordan, Kazakhstan, Kyrgyzstan, Kuwait, Lebanon, Libya, Maldives, Mauritania, Morocco, Niger, Oman, Pakistan, Qatar, Saudi Arabia, Senegal, Tajikistan, Tunisia, Turkiye, Turkmenistan, United Arab Emirates, Uzbekistan are countries where clients receive swap-free status automatically, and Pakistan is on that list. Check which instruments are covered in your Personal Area.

Margin is the amount your broker holds to keep a position open. It depends on the position size and leverage. Use the calculator to see it before you open a trade.

More tools are on Calculators.

Note for readers in Pakistan

On payments, per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)). Also, per the SBP, the purchase of offshore forex/margin/CFD products by Pakistani residents violates section 4(1) of FERA 1947. Read Law and regulators before opening any offshore account.

Frequent questions

What does USDBRL mean?

It is the price of a US dollar in Brazilian reals. A rising quote means the dollar is strengthening against the real.

Is USD/BRL a major pair?

No. It is an exotic pair, so expect wider spreads, larger swaps and more gap risk than on pairs like EUR/USD.

How do I find the pip value for USD/BRL trading?

It is calculated in reals and then converted into your account currency at the current rate. Use the pip calculator on this page.

Why do interest rates matter so much for the dollar vs Brazilian real?

The rate gap between the Fed and the BCB drives carry flows and swaps. A change in either central bank's outlook can move the pair.

Is USD/BRL available on Exness?

We have not confirmed that it is listed. Check the symbol list and specification in your platform or Exness personal area.

Which similar pairs can I read about?

See USD/MXN and USD/ZAR, which are also US dollar pairs against emerging-market currencies.