Rousseff Spells End of Real’s Two-Year Rally: Brazil Credit
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The two-year rally in Brazil’s real is ending even as the central bank prepares to raise its key interest rate by the most of any country except Turkey, according to Bloomberg surveys.
The real will drop 3.1 percent this year after soaring 39 percent since 2009, the biggest advance in Latin America and second in emerging markets after South Africa’s rand, according to the median forecast of analysts. The real is one of only five developing-nation currencies tracked by Bloomberg that’s estimated to slide against the dollar this year. The other 17 will rise, led by the Korean won, according to the surveys.