Brazil’s Real to Strengthen and Hover Above 3, Minister Says
Brazil on the Brink: The Economic Crisis Deepens
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Brazil’s real will strengthen and hover above 3 per U.S. dollar as the political crisis engulfing President Dilma Rousseff eases, according to Development, Industry and Trade Minister Armando Monteiro Neto.
The real is the worst-performing major currency this year as Rousseff, weakened by record low popularity, struggles to implement a plan to shore up the country’s fiscal accounts. Moody’s cut Brazil’s sovereign credit rating one level above junk this month, saying debt levels will continue to until the end of Rousseff’s term in 2018.