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Brazil real falls most among major currencies on fiscal concern

Posted on 02 December 2013

Brazil’s real declined the most among major currencies as concern the nation’s fiscal deterioration will lead to a credit rating cut made the currency less attractive to investors.
The real depreciated 0.8 percent to 2.3360 per dollar at the close in Sao Paulo and lost 4.1 percent in November, its biggest monthly decline since August. Swap rates on contracts maturing in January 2015 climbed three basis points, or 0.03 percentage point, to 10.66 percent, extending their monthly increase to nine basis points………………………………..Full Article: Source


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