The Brazilian real’s 4.5 percent tumble this week, the most among major currencies worldwide, has forecasters reviewing estimates after the government said it won’t meet fiscal targets.
The real touched a 12-year low Friday, falling faster and farther than economists had predicted, after Finance Minister Joaquim Levy asked lawmakers to cut a key budget goal. The move sparked speculation that Brazil’s credit ratings will be cut as Latin America’s largest economy heads for the worst recession in a quarter century.
Brazil Energy Insight 
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