LatinNews Daily - 22 March 2022

In brief: Brazilian real gains ground against the dollar

* The Brazilian real has appreciated against the US dollar, closing the day below R$5/US$1 yesterday (21 March) for the first time since June 2021. The real traded as low as R$4.93/US$1 during the day, before closing at R$4.94/US$1, appreciating 1.43% against the US dollar. Rising commodities prices due to the war between Russian and Ukraine and high interest rates are attracting foreign capital to Brazil and helping strengthen the real, which has been through a turbulent couple of years – in 2020, the year the coronavirus (Covid-19) pandemic hit, the Brazilian real was one of the worst performing emerging market currencies in the world.

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