Brazil Real Posts Worst Week Since 2008 on Budget, U.S. Jobs
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The real had its worst week in six years as prospects for higher U.S. interest rates added to concern over Brazil’s ability to shore up its fiscal accounts.
The Brazilian currency dropped 2 percent to 3.0640 per dollar at the end of trade in Sao Paulo, extending its slide for the week to 7.3 percent. The real weakened beyond 3 per dollar for the first time since 2004 on Thursday.