Newspaper Valor Economico’s real-time news service reported that Rousseff has not yet decided on a replacement for Levy, and there is no set date for his exit. The new minister would not be totally autonomous, the news report says without disclosing how it got the information. The currency also declined as slowing credit growth in China weakened the outlook for commodities exporters.
The real fell 1.3 percent to 3.8203 per U.S. dollar as of 2:33 p.m. in Sao Paulo, putting it on course for its first weekly decline in a month.
Brazil’s tender advanced earlier this week amid speculation that former central bank head Henrique Meirelles could replace Levy, fueling optimism he could conjure the political support needed to pass austerity measures.
Brazil Energy Insight 
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