As more investors are searching for quick, high profits amid growing global financial uncertainty, the currencies of some emerging economies, including South Korea, have gained significantly since Brexit.
According to Bloomberg on Monday, Brazil’s Real led gains among the 23 major currencies in the world during a six-week period beginning June 23rd, when Britain decided to leave the European Union.
On June 23, three-point-337 Reals were exchangeable with a U.S. dollar, but the Brazilian currency gained by five-point-two percent to three-point-1655 Real per dollar last Friday.
South Africa’s Rand followed the Real by appreciating by four-point-eight percent during the period, while Japan’s yen finished third with a four-point-one percent gain.
During the period, the South Korean won gained by three-point-five percent due to what market experts say is its relatively smaller risk and relatively higher profitability.