Brazilian Real Falls Most in Emerging Markets on China Slowdown

Brazil’s real fell the most in emerging markets after manufacturing contracted in China, the South American nation’s top trading partner, even as the central bank intervened to try to stem the currency’s depreciation.

The real slid 1.6 percent to 2.2505 per U.S. dollar, the most on a closing basis since June 19. The central bank sold $993 million of foreign-exchange swap contracts today in the 17th day of auctions since May 31. Swap rates on contracts due in January climbed two basis points, or 0.02 percentage point, to 8.76 percent.