LatinNews Daily - 09 March 2021

In brief: Brazil’s weak real plunges further

* The Brazilian real, one of the worst performing emerging market currencies, has plunged further against the US dollar, closing the day at R$5.78/US$1 yesterday (8 March). The real lost 1.67% in value against the dollar yesterday, accumulating a 11.3% decline since the start of the year. The announcement yesterday afternoon of the annulment of former president Lula da Silva’s (2003-2011) corruption convictions accelerated the real’s dip and the negative performance of the São Paulo stock exchange (Bovespa), which saw its index slide 4%. 

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