Brazil's real continues its slump amid election uncertainty

SAO PAULO — Brazil's currency is falling again against the dollar amid uncertainty over this year's elections in Latin America's largest economy.

Brazil's real was trading around $0.27 on Tuesday — its lowest price in more than two years. The Brazilian currency has fallen about 10 percent against the dollar this year.

The slide is partially due to the strength of the dollar, which has been gaining against several currencies. But the fall also stems from concerns about Brazil.

Brazil's economy has started to grow again after a protracted recession, but investors are concerned about the future. The country will elect a new president in October, and many market-watchers are worried that the next leader could halt or reverse economic reforms begun by President Michel Temer. Markets have largely supported those reforms.

Related News

Rugby couple put respect in front and center in Olympics

Aug 10, 2016

Isadora Cerullo has become a celebrity around Rio, more for what happened on the sidelines of the Olympic rugby stadium than for her performances on the pitch

Teenager who scaled Trump Tower had past problems at home

Aug 11, 2016

A Virginia teenager who climbed partway up Trump Tower in New York City had a history of problems at home

Asian shares climb, tracking gains in US stocks, oil prices

Aug 12, 2016

Asian shares rose Friday, tracking the rally in U.S. stocks that was driven by strong gains by energy companies and retailers

Search

Deck Biz is an intelligent platform providing international and regional business news updates. You won’t get these insights elsewhere other than Deck Biz.

Contact us: sales@deckbiz.com