Calling End to Latin American Currency Rout a Fool’s Errand
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The $5.3 trillion foreign-exchange market is losing confidence in the ability of Latin America’s leaders to turn the region’s flagging economy around.
Brazil’s real is the world’s worst-performing major currency this year, plunging 21 percent. Mexico’s peso is at a record low. Venezuela’s black-market bolivar has depreciated so much that a monthly minimum wage now fetches just over $11.