# Latin American Currencies Tumble Ahead Of Key Central Bank Decisions - Finimize

> Most Latin American currencies fell ahead of key central bank decisions, with Colombia's peso down 1% on lower crude prices and Mexico's peso down 0.9% to a six-week low. Brazil's real gained 0.5% on doubts about near-term rate cuts, while Venezuelan bonds fell after disputed election results.

- Date: 2024-07-29 · published 2024-07-29T12:00:00.000Z
- Category: macro · region Latin America · magnitude low
- Page: https://feedsoft.ai/events/29525-latin-american-currencies-tumble-ahead-of-key-central-bank-decisions-finimize
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Currency weakness in Mexico and Colombia raises the local cost of imported feed ingredients, which can slow buying. Brazil's firmer real makes its soybean and corn exports less competitive in dollar terms.

## Read by commodity

- USDBRL: bearish ▼
- USDCOP: bullish ▲
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2023-09-18 | [Most Latin American currencies up ahead of central bank policy decisions](https://feedsoft.ai/events/34396-most-latin-american-currencies-up-ahead-of-central-bank-policy-decisions.md) | +0.9% | +3.9% |
| USDBRL | 2019-12-05 | [Latin America’s Currencies Are Back From the Brink of Collapse - Bloomberg](https://feedsoft.ai/events/55825-latin-america-s-currencies-are-back-from-the-brink-of-collapse-bloomberg.md) | -1.7% | -3.6% |
| USDBRL | 2022-09-12 | [Latam currencies rally as dollar weakens ahead of U.S. inflation data](https://feedsoft.ai/events/39788-latam-currencies-rally-as-dollar-weakens-ahead-of-u-s-inflation-data.md) | +2.6% | +1.2% |
| USDBRL | 2017-01-27 | [Latin American currencies strengthen after weak U.S. GDP data \| El Universal](https://feedsoft.ai/events/73184-latin-american-currencies-strengthen-after-weak-u-s-gdp-data-el-universal.md) | -2.0% | -2.4% |
| USDBRL | 2021-12-08 | [Brazil's real rallies over 1% ahead of interest rate decision \| Financial Post](https://feedsoft.ai/events/43829-brazil-s-real-rallies-over-1-ahead-of-interest-rate-decision-financial-post.md) | +0.7% | +1.3% |

## Sources

- finimize.com: https://finimize.com/content/latin-american-currencies-tumble-ahead-of-key-central-bank-decisions

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.