MENA Troubles May Firm LatAm Currencies

MENA Troubles May Firm LatAm Currencies

Brazil Chile Mexico Central America Economy & Policy Corporate & Sovereign Strategy

Currencies of LatAm countries with strong oil and gas industries could benefit from the turmoil in the Middle East and North Africa as Brent crude prices edge towards $120 per barrel. "We believe high oil prices will be particularly positive for the COP," says Nomura, adding that the "BRL should be counted among the winners given the huge potential in oil production." The MXP, meanwhile, "is likely to be a marginal winner," Nomura says. However, if oil prices rise above $3.50 per gallon - the av

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