Forex Hedging against the BRL Reais

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New Member

New to FOREX, but, I have some finance experience although have yet to practice beyond the hypothetical. Need some help navigating the BRL market, I am US based which from my understanding limits some IB functionality.

In Brazil, I purchase a product which has a set value of 400 reais each unit regardless of USD/BRL exchange rate. It does not change with regard to weather, economy, supply etc. I sell a few thousand each week.

With exchange rates increasing I’ve seen an increase a decrease in profits as Reais/USD is now .19 as opposed to .17. This has changed cost from $68 USD to $76 decreasing profit $8 per unit.

In a few other threads I’ve read that I could use EWZ as a proxy for the reais, however, I was wondering if anyone has suggestions on the strategy to use and/or platforms which would support it.
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