Dollar: How much will the currency arrive at the end of the year, according to the City Gurúes

In this way, market analysts cut the estimates for the currency, after the first full month of the new exchange rate of flotation between bands, in which the exchange rate increased only 1.5%.

Indeed, the median of the dollar projections was $ 1,167 per dollar for the average of June. For the top 10 of analysts, the expected average exchange rate for June is $ 1,165.

By December 2025, the set of participants predicted a nominal value of $ 1,300, which shows an expected year-on-year variation of 27.4% (-2.2 pp compared to the previous REM).

Anyway, The projections of a very slight exchange rate appreciation for this year are maintained, since the annual rise of the American ticket is located below the inflation forecast for the same period, which is projected in 28.6%.

According to the May REM, analysts project a path of You are very moderate for the official dollar in the coming months, between 1.3% (July) and 2.4% (October). Thus, the median expectations places the exchange rate in $ 1,182 for July, $ 1,205 for August, $ 1,230 for September, $ 1,259 for October and $ 1,278 for November.

Recall that, in mid -April, the Government announced a flexibility of the exchange rate and a new flotation exchange scheme, with an initial floor of $ 1,000 and a roof of $ 1,400, together with a monthly update of 1% of those values ​​(below in the case of lower level and up in the case of the ceiling of the band).

Thus, during the fourth month of the year, The official exchange rate recorded a rise of almost 9%, leaving behind the “crawling peg” of 1% monthly that ruled so far. As a result of this, market analysts had promoted the exchange rate estimates in the April REM.

Dollar for 2025:

• June 2025: $ 1,167
• July 2025: $ 1,182
• August: $ 1,205
• September: $ 1,230
• October: $ 1,259
• November: $ 1,278
• December: $ 1,300
• Next 12 months: $ 1,392 (May 2026)