Brazilian real surges 10.9% vs dollar in 2026, strongest since 2025

The Brazilian real has appreciated 10.9% against the U.S. dollar in 2026, marking the largest annual gain since 2025 and surpassing all full-year gains since 2010 except 2016 and 2025. This reflects sustained capital inflows and improved investor sentiment toward Brazil, though the year is still in progress and momentum could reverse.