The real dropped 0.3 percent to 3.7629 per dollar at 9:46 a.m. in Sao Paulo. The currency has tumbled 29 percent this year, the most among major tenders, amid concern that Brazil’s political turmoil could exacerbate the recession and cause the nation’s finances to deteriorate further.
Brazilian analysts expect the economy to contract 3.5 percent this year and 2.31 percent in 2016, compared with a previous predictions of a 3.19 percent and 2.04 percent drop, a central bank survey released Monday shows
Brazil Energy Insight 
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