Brazilian Real Falls as Global Tension Sinks Emerging-Market Bid
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Brazil’s real dropped for the first time in three days as mounting tension from Iraq to Ukraine sank demand for higher-yielding assets in emerging markets.
The real declined 0.5 percent to 2.2350 per dollar in Sao Paulo, falling along with most developing-nation currencies tracked by Bloomberg. Swap rates on contracts maturing in January 2017 rose nine basis points, or 0.09 percentage point, to 11.51 percent.