The Brazilian real, one of the worst performing currencies of 2015, has touched another record low against the U.S. dollar on Monday.
The real traded at 3.67 to the dollar, down 2.3% compared to its
level late Friday in New York. The Brazilian currency moved lower Monday even as other
emerging-markets currencies recovered from last week’s selloff.
The
Turkish lira, another one of 2015’s worst performers, traded at
2.91 lira to the U.S. dollar, up 0.4% from the Friday's levels.
Brazil’s economy is
dependent on commodity exports, and its currency has been battered as
prices have fallen over the past year.
Political issues resulting from a corruption scandal at the state-controlled energy company Petrobras have also shaken confidence in the country’s government.
