Brazil’s currency, the real, has plummeted 21% against the dollar this year due to new fiscal concerns. The decline is causing financial strain on major companies in the country. With interest rates rising to 14.25%, borrowers are finding it difficult to service their debt and cover costs. This situation is making it challenging for these companies to manage their finances amid the economic turmoil.
Source: https://www.bloomberg.com/news/articles/2024-12-18/world-s-worst-performing-currency-hurts-dollar-borrowers-in-brazil