Brazil moved furthest; its policy rate was 13.75% as of October 2022, which explains why the Brazilian real has been the top-performing currency against the U.S. dollar in 2022, up 7.3% through November 2022.

Source: https://seekingalpha.com/article/4569559-emerging-markets-equities-positioned-for-a-rebound?source=feed_all_articles

Latin American currencies (Colombian peso, Brazilian real, and Mexican peso) led the charge, and accounted for three of the top four performing emerging market currencies last month, joined by the South African rand.

Source: https://seekingalpha.com/article/4614798-marc-to-market-july-2023-monthly-update?source=feed_all_articles

Specific to the Brazilian real, a 10% change in the exchange rate would be expected to result in an approximate $30 impact on Brazilian production cost of sales per equivalent ounce sold.

Source: https://investingnews.com/barrick-announces-new-share-buyback-program/