Brazil and Turkey currencies still lower against US dollar than before pandemic period

Until recently, the real was one of the worst performing emerging currencies against the dollar in 2021, repeating its position in 2020. Since mid-April, it has performed better than its peers.

RIO DE JANEIRO, BRAZIL - The dollar has dropped sharply in recent days against the Brazilian Real (R$), pushing the American currency from near R$5.50 to around R$5.30. Despite the improvement, the Real is still one of the few emerging country currencies traded at lower prices than before the pandemic, when it fluctuated around R$4.50, reaching R$4.70 in March.

Chile, South Africa, Mexico, and Colombia's currencies are currently at levels below March 11 last year, when the World Health Organization (WHO) officially classified the global Covid-19 situation as a pandemic.

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