Economics
Brazil’s Real Leads Global Declines on Dimmed Economic Prospects
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Brazil’s real led global losses as a weakening economic outlook overshadowed central bank measures to support the currency.
The real fell 1.6 percent to 2.7274 per U.S. dollar at the close of trade in Sao Paulo, the most among 31 major counterparts. Swap rates, a gauge of expectations for changes in Brazil’s borrowing costs, climbed 0.10 percentage point to 12.85 percent on the contract maturing in January 2016. The currency posted on Friday a weekly drop of 3.8 percent, its biggest since September.