Economics
Brazil’s Real Leads Major Currency Drops as Petrobras Downgraded
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Brazil’s real fell the most among major currencies as a downgrade of Petroleo Brasileiro SA amid a corruption probe added to speculation that President Dilma Rousseff will struggle to restore investor confidence.
The real dropped for a third straight day, declining 1.7 percent to 2.6494 per dollar at 9:56 a.m. in Sao Paulo in the biggest decrease since Nov. 6. The currency pared its gain in January to 0.4 percent.