Brazil's Real Drops on Economic Woes as China Trade Disappoints
- Economists in central bank survey cut 2015, 2016 GDP forecasts
- Currency is the worst performer among 31 major tenders
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The Brazilian real slumped as economists in a central bank survey said the recession is worsening, while a disappointing trade report out of China shows it’s unlikely the Asian nation can help fuel a rebound anytime soon.
The real dropped 0.8 percent to 3.7993 per dollar Monday in Sao Paulo. The currency is down 30 percent this year, making it the worst performer among 31 major counterparts to the dollar tracked by Bloomberg.