Brazil’s real gained from a record low as lawmakers failed to overturn some presidential vetoes that had limited government spending, a victory for President Dilma Rousseff and her attempt to shore up fiscal accounts. Brazil’s currency advanced 0.7 percent to 4.0213 per dollar at 9:09 a.m. in Sao Paulo, strengthening from the lowest level since... Continue Reading →
At 4-Per-Dollar, Brazil’s Currency and Reputation Are in Tatters
The collapse of Brazil’s currency is becoming emblematic of all the progress in the past decade that the nation has now squandered. The real tumbled to the lowest level since Brazil introduced the tender in 1994, wiping out the gains -- as well as the hard-earned credibility -- that former President Luiz Inacio Lula da Silva won... Continue Reading →
Brazil Weaknesses Not Enough to Cost Moody’s Investment Grade
The deterioration in Brazil’s economic and political outlook isn’t enough to strip the country of its investment grade, Moody’s Investors Service senior analyst Mauro Leos said. “There are clear weaknesses facing Brazil, but they’re not as bad as those that we saw when we downgraded other countries,” Leos said Tuesday at a Council of the Americas... Continue Reading →
Brazil August Current Account Gap Narrows More Than Forecast
Brazil’s current account deficit narrowed more than economists forecast in August, as a weaker currency boosts exports and crimps imports in Latin America’s largest economy. The deficit in the current account, the broadest measure of trade in goods and services, narrowed in August to $2.5 billion from a revised $5.7 billion a month earlier, the... Continue Reading →
Market Skeptics Miss Out on $5.5 Billion in Biggest ’15 Deal – Shell/BG
A fresh drop in in oil prices and political instability in Brazil is making investors miss out on about $5.5 billion in Royal Dutch Shell Plc’s pending takeover of BG Group Plc. BG closed on Monday at 990.4 pence, about 9.5 percent below Shell’s cash-and-stock offer. The difference in share prices in the deal -- the largest... Continue Reading →
Brazilian Real Drops to Record Low Against U.S. Dollar – R$4.01
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 →
Brazil’s Real Near 4.00 per Dollar Again Confronts a Vicious Cycle
It is the ugliest of round-trips for Brazil. It is near-13 years on from December 10, 2002, and a weak Brazilian real of 4.0040. Again, we move toward the 4.00 level today. Read More
Brazil Real on its way to hit all time high of R$4.00
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 →
Real hits new lows as Brazil crisis offsets Fed boost
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
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 →
