The Brazilian Real has been in trouble over the recent months.
Bloomberg is reporting that implied volatility for the Real is among the highest of the 16 major currencies tracked by Bloomberg.
In an attempt to shore up the Nations’ Finances Brazil’s President Rouseff named Nelson Barbosa as new finance Minister over the weekend.
The Real has lost over 30% of its value against the U.S. Dollar in the last 12 Months.
Meanwhile Bitcoin is up over 100% against the Brazilian Real in just the last 90 days.
With LocalBitcoins.com showing record volume for Bitcoins in Brazil.