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... Continue Reading →

The economic and political crisis that has paralyzed the discredited government of Dilma Rousseff from passing an effective fiscal package might force the currency to hit a historic high of R$4.00/USD. Despite a Central bank statement that it will put out USD 3 billion at today's currency auction. A survey published today, shows a further... Continue Reading →

EMERGING MARKETS-Real hits new lows as Brazil crisis offsets Fed boost SAO PAULO, Sept 18 The Brazilian real fell to a 13-year low on Friday as political and economic problems at home outweighed bets that the U.S. Federal Reserve may still take a while to raise interest rates. The real dropped to as much as... Continue Reading →

EMERGING MARKETS-Brazil real sinks on domestic jitters ahead of U.S. Fed SAO PAULO, Sept 17 The Brazilian real plunged nearly 2 percent on Thursday as investors saw no end to a domestic political crisis that is hampering President Dilma Rousseff's ability to approve crucial austerity measures. The real weakened to as much as 3.91 per... Continue Reading →

PETROBRAS LOOMS LARGE European high-yield bond managers are also increasingly wary about exposure to Petrobras, which is at the centre of the country's "carwash" corruption scandal but also got caught up in S&P's sovereign downgrade and was cut two notches from BBB- to BB. The Brazilian oil giant has 6.9bn of euro bonds outstanding, alongside... Continue Reading →

Brazil's increasingly unpopular president, Dilma Rousseff, has had to negotiate parts of her recently announced austerity measures with skeptical lawmakers, putting in doubt fiscal savings needed to balance Brazil's budget, newspaper Estado de S. Paulo said on Thursday. If the government concedes on the three items under discussion, it could reduce proposed spending cuts by... Continue Reading →

Brazil’s real and stocks dropped on speculation that the president’s proposal to rein in the budget deficit will fail in Congress after lawmakers began formally discussing the possibility of impeachment on the floor of the lower house. Thursday’s 1.8 percent decline for the currency was the most in emerging markets and sent a gauge of... Continue Reading →

Tue Sep 15, 2015 10:56am EDT Reuters Brazil's fiscal plan is a positive development, says Moody's RIO DE JANEIRO, SEPT 15 Brazil's recently-announced austerity measures are a "positive development," a senior analyst with Moody's Investors Service said on Tuesday in a vote of confidence to President Dilma Rousseff's efforts to plug a budget deficit in... Continue Reading →

Brazil's government announced spending cuts and tax increases totaling 65 billion reais ($16.9 billion) on Monday as it races to close a budget deficit that led to a downgrade of the country's credit rating last week. The biggest item was the revival of the unpopular CPMF tax on financial transactions that will raise 32 billion... Continue Reading →