Brazilian currency is doing surprisingly well against the US Dollar

As a brazilian, we always joke that one of the few certainties is that the US Dollar will go up against our currency.

For the past few weeks that has not been the case. Despite international turmoil and global uncertainty our currency has been doing well.

A few reasons for it:

• Our interest real rates (real means adjusted for inflation) are currently one of the highest in the world, so a lot of foreigners are exchanging their dollars/euros/etc for our currency to leave it yielding in our banks.
• Most of our blue-chip companies export commodities, and since commodities are going up and uncertainty is global we had a huge influx of foreign investments

I invest mostly in brazilian stuff, I do not like investing abroad because it leaves me exposed to foreign jurisdiction, but I invest mostly in interest rates, I don't like variable income and stuff that goes up and down, I like leaving my money working for itself, and because of the interest rates looks like foreigners are starting to think like that too.

Although inflation is a big issue, it was around 10% last year, because of the dollar going down against our currency, we might be off for a great 2022.