Dollar falls against the Brazilian real by 2.14% and closes below R$5 before interest rate turnaround

The dollar also moved lower against most emerging market currencies, particularly the South African rand and the Mexican and Chilean pesos, which suffered yesterday (2) as the U.S. currency rose to near its highest level in 20 years.

RIO DE JANEIRO, BRAZIL - The dollar closed the day with a sharp decline of 2.14% - the highest level since December 2021 - to close at R$4.9625. The deviation was mainly due to an international movement of the dollar depreciation.

According to market participants, a new injection of liquidity by the local monetary authority in the foreign exchange market also contributed to the dollar losses.

The dollar also moved lower against most emerging market currencies, particularly the South African rand and the Mexican and Chilean pesos, which suffered yesterday (2) as the U.S. currency rose to near its . . .

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