Brazilian Real Plummets to a 26-Month Low Against the US Dollar

Government officials state that Brazil is not facing a currency crisis and plan to offer US$20 billion in the futures market to keep the Brazilian real from devaluating further.

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – The Brazilian real took another dive on Thursday against the U.S. dollar, with the North American currency registering an appreciation of 2.3 percent during the day and closing at R$3.926/US$1. Brazilian officials rushed to calm investors as the domestic currency reached the lowest value since March 1, 2016.

"There is no risk of a currency crisis in Brazil," Brazil’s President Michel Temer said in a TV interview with government-run TV Brasil on Thursday.

According to President Temer, the country has reserves of . . .

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