Brazil's Real Falls as China's Weaker Yuan Threatens Exports
- China moves to weaken currency, increasing concern over growth
- Emerging-market currencies tumble as commodities at 12-yr low
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Brazil’s real declined along with emerging-market currencies after China weakened its yuan, tarnishing the outlook for Brazilian exports to its biggest foreign market.
Global stocks fell and commodities slid after the People’s Bank of China set its daily yuan fixing at the lowest level since 2011. The real lost 0.5 percent to 4.0294 per dollar in Sao Paulo amid speculation prices may drop for the iron ore and soy Brazil sends to China. The S&P GSCI Index of raw materials declined 3.1 percent to a 12-year low.