# Turkey shock waves hit Latam markets, Mexican peso slides 1pc - Markets - Business Recorder

> The Mexican peso fell about 1% and Brazil's real weakened on Monday after the Turkish lira plunged following the firing of Turkey's central bank chief. Most emerging market currencies weakened as investors sought dollar safety.

- Date: 2021-03-22 · published 2021-03-22T12:00:00.000Z
- Category: macro · region Latam · magnitude low
- Page: https://feedsoft.ai/events/48326-turkey-shock-waves-hit-latam-markets-mexican-peso-slides-1pc-markets-business
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Emerging market currency stress raises import costs for Latin American feed buyers and can pressure Brazilian soybean and corn export pricing in dollar terms.

## Read by commodity

- USDBRL: bullish ▲
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2020-06-25 | [Latam stocks fall on virus woes; Mexican peso weak before rate move - Markets - Business Recorder](https://feedsoft.ai/events/52835-latam-stocks-fall-on-virus-woes-mexican-peso-weak-before-rate-move-markets.md) | +0.9% | -3.0% |
| USDBRL | 2021-09-28 | [Slowing growth worries hammer Latam assets, Mexico's peso slumps 1% - Markets - Business Recorder](https://feedsoft.ai/events/45285-slowing-growth-worries-hammer-latam-assets-mexico-s-peso-slumps-1-markets.md) | +1.4% | +4.2% |
| USDBRL | 2021-06-29 | [Colombian peso drops over 1%; Mexican peso on a winning streak - Markets - Business Recorder](https://feedsoft.ai/events/46880-colombian-peso-drops-over-1-mexican-peso-on-a-winning-streak-markets-business.md) | +4.8% | +4.4% |
| USDBRL | 2021-01-22 | [Latam FX falls as dollar rises, Brazil real lags peers for the week - Markets - Business Recorder](https://feedsoft.ai/events/49387-latam-fx-falls-as-dollar-rises-brazil-real-lags-peers-for-the-week-markets.md) | +0.4% | +0.3% |
| USDBRL | 2021-02-09 | [Brazil's real leads Latam FX losses on fiscal concerns - Markets - Business Recorder](https://feedsoft.ai/events/48852-brazil-s-real-leads-latam-fx-losses-on-fiscal-concerns-markets-business-recorder.md) | +1.2% | +9.3% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40076425

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