Economics
Brazilian Real Weakens to 3 Per Dollar for First Time Since 2004
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Brazil’s real fell past 3 per dollar for the first time in a decade as fiscal turmoil and signs of economic contraction stoked speculation that the nation may lose its investment-grade credit rating.
The real slid 0.8 percent to 3.003 per dollar at the close of trade in Sao Paulo, the weakest level since August 2004. Net overseas holdings of futures contracts betting against the real reached a record $38.1 billion March 2.