Exchange rate volatility is a concern for Basf. Eduardo Leduc, Vice President of the Agricultural Solutions Division for Latin America. In response to a question raised by Globo Rural about the effects of the dollar’s fluctuation on the multinational’s business in agriculture, the executive stresses that the current scenario still brings uncertainties.
“By 2019 currency volatility remains a concern, due to uncertainties with local reforms and the international scenario,” Leduc said in a note, without further details.
Last week, the dollar surpassed R $4, amidst tensions in the relationship between the Executive and the Legislative and its effects on the process of the proposal for Pension Reform delivered by the Bolsonaro government to Congress. In March, the US currency rose 4.32% in relation to the Brazilian currency. In the first three months of 2019, the gain was 7.01%.
On Monday, Apr. 1st, in the first trading session of April, the quotation started the day with a downward trend. Around 12.15, the dollar was worth R $ 3.8716, down 1.11% from the close of last Friday.