Brazil Real Declines as Mantega Signals End to Currency Measures
This article is for subscribers only.
Brazil’s real fell to a two-week low after Finance Minister Guido Mantega said there is no need to take additional measures to intervene in the market as the local currency stabilizes at about 2 per U.S. dollar.
The real sank 0.6 percent to 1.9728 per dollar at the close of trading in Sao Paulo, the weakest since Feb. 6, after Mantega commented in a conference call with reporters. Swap rates on the contract due in January 2014 fell two basis points, or 0.02 percentage point, to 7.67 percent.