◆1 source
The Brazilian real had risen by 10% through May 2026, but that gain was subsequently wiped out after Lula was unexpectedly re-elected. A free fall in the currency is considered unlikely.
13 sources
Incumbent President Luiz Inácio Lula da Silva won Brazil’s presidential runoff against far-right Senator Flávio Bolsonaro, the son of former president Jair Bolsonaro, and secured a fourth term. The electoral authority announced the result after polling stations remained open longer following reports of transport problems and heavy rain. Reports gave Lula either 51.76% or 51.79% of the vote, against 48.24% for Bolsonaro. Bolsonaro refused to concede, called for the result to be invalidated and alleged that the Supreme Court had changed election rules at the last minute. Brazilian shares fell sharply on Monday after Lula’s unexpected victory, with reports saying investors had anticipated a Bolsonaro win.
11 sources
Flávio Bolsonaro, who lost Brazil’s presidential election to incumbent Luiz Inácio Lula da Silva, left Brazil with his wife and two daughters and was travelling to the United States, according to his allies. The Supreme Court had barred him from leaving the country and ordered him to surrender his passports as part of an investigation into suspected money laundering, which he denies. Police sources said his passports were declared invalid after he missed the deadline to hand them over.