Brazil: Real Hits All-Time Low against Dollar
- 9 years ago
The Brazilian real dropped to a minimum 4.03 to the dollar within minutes of the market’s opening. This year the Brazilian currency has depreciated a total of 33%, heightening fears of a deepening economic crisis. President Dilma Rousseff seems to be having difficulties putting in place a plan to revive the economy, which entered into recession in the second quarter of the year. The government’s response was a massive austerity package. teleSUR