Brazil’s Currency Falls to a Decade Low as Retail Sales Tumble
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Brazil’s real sank to a 10-year low as a record drop in retail sales added to concern that Latin America’s largest economy is slumping.
The local currency slid 1.2 percent to 2.8679 per dollar at the close of trade in Sao Paulo, the lowest closing level since October 2004. It is 0.6 percent weaker than the year-end median forecast of 2.85 per dollar among analysts surveyed by Bloomberg.