The Brazilian real dropped today, falling for the fourth consecutive trading session and reaching the lowest level in five years against the US dollar, as the outcome of the presidential elections remains uncertain.
The date of the second round of the run for the presidential seat nears, and polls still show no clear winner. With the elections too close to call, it is expected that the real will continue to experience volatility. This made the Brazilian currency the worst performer among currencies of emerging markets after the ruble even though the latest economic reports from the country were rather good.
USD/BRL was up from 2.4810 to 2.5049 as of 16:09 GMT today.
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