Brazil Real Falls to R$4 to US$1 and Stock Market Tumbles

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Not even the discourse by Brazil’s President Dilma Rousseff on Monday in New York at the United Nations General Assembly, stating that fiscal measures undertaken by her administration were leading to the revival of Brazil’s economic scenario, were enough to calm international and domestic investors. The U.S. dollar once again surged against the Brazilian real, closing the day above R$4 to US$1, while Brazil’s stock market registered its lowest level in six years.

The devaluation of the Subscribe to our Premium Membership Plan. Already Subscribed?