Jan. 12 (Bloomberg) -- Brazil’s real fell as crude oil, one of the country’s top three exports, dropped below $40 a barrel.

Brazil’s currency weakened 1.5 percent to 2.2860 per dollar at 6:52 a.m. New York time, from 2.2532 on Jan. 9.

Oil slid for a fifth day in New York on concern production cuts by the Organization of Petroleum Exporting Countries won’t counter a slump in demand.

To contact the reporter on this story: Adriana Brasileiro in Rio de Janeiro at abrasileiro@bloomberg.net

Last Updated: January 12, 2009 07:00 EST