Brazil’s real dropped for the first time this week as a widening corruption probe offset speculation the government will announce as much as $12.3 billion of new loans to revive Latin America’s largest economy.
The real trimmed this year’s gains after Brazil’s federal police carried out search and arrest warrants in four cities on Wednesday to probe allegations of money laundering related to a graft scheme at state oil company Petroleo Brasileiro SA. The currency advanced earlier after a person familiar with the discussions said Finance Minister Nelson Barbosa was expected to make the stimulus announcement on Thursday.
Brazil Energy Insight 
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