Brazil Real’s World-Worst Rout Deepens on Government Measures
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Brazil’s real dropped for a third straight week as the government imposed more measures to weaken the currency and bolster exports.
The real fell 0.1 percent to 1.7998 per U.S. dollar, from 1.7983 yesterday, extending its drop this week to 0.5 percent. The currency has lost 4.6 percent since the end of February, making it the worst performer in the world. Yields on the interest-rate futures contract due in January rose five basis points, or 0.05 percentage point, to 8.98 percent today. The yields increased 33 basis points this week.