12.02.2015 - Brazil’s Currency Falls to a Decade Low as Retail Sales Tumble
Brazil’s real sank to a 10-year low as a record drop in retail sales added to concern that Latin America’s largest economy is slumping. The local currency slid 1.2 percent to 2.8679 per dollar at the close of trade in Sao Paulo, the lowest closing level since October 2004. It is 0.6 percent weaker than the year-end median forecast of 2.85 per dollar among analysts surveyed by Bloomberg. The real fell after the national statistics agency reported that retail sales tumbled 2.6 percent in December from a month earlier, the biggest drop since the series of data began in 2000. Analysts predict zero growth for Brazil this year, according to the median of about 100 estimates in a central bank survey published Monday...............................................Full Article: Source
Print