Brazil’s real fell to its lowest level since its introduction two decades ago on concern that President Dilma Rousseff won’t be able to shore up the country’s budget and avoid further credit-rating cuts.
The currency sank to as low as 4.0142 per dollar, the weakest intraday level since its introduction in 1994. Futures on the benchmark Ibovespa stock index decreased 1.3 percent to 46,230 as of 9:03 a.m. in Sao Paulo
The real has tumbled 5.7 percent since Standard & Poor’s cut the nation to junk on Sept. 9, and concern is mounting that the country may face further downgrades amid a political stalemate related to a probe into corruption at the state-controlled oil company. Rousseff’s proposals for spending cuts and tax increases are failing to win support, with lawmakers saying they’ll burden middle-class Brazilians already suffering from the longest recession since the 1930s and inflation that’s almost double the central bank’s target.
Brazil Energy Insight 
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