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LatinNews Regional Monitor: Brazil & Southern Cone - 27 April 2020

In brief: Market reacts to political upheaval in Brazil

* The index for the São Paulo stock exchange (Bovespa) fell 5.45% on 24 April, tumbling 9.5% after Sergio Moro announced his resignation as Brazil’s justice & public security minister that morning, before recovering slightly but still closing the day at 77,330 points, its lowest point since 6 April. Meanwhile, the real reached new lows against the US dollar for the third consecutive day, closing at R$5.66/US$1, after trading as low as R$5.74/US$1 during the day. The US dollar has appreciated 41.25% against the Brazilian real since the start of 2020. 

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