Real makes shaky steps to recovery

The real slipped to 3.745 per dollar last Wednesday (November 6) following the failure of the city of Sao Paulo to make a debt payment of BRL3 billion ($837 million) to the federal government. The news prompted fears of state and municipal debt defaults. But federal and city officials were quick to dispel speculation, citing an agreement within the city’s contract with the government that allows it to delay payment.

Market participants have widely dismissed the real’s slip as an overreaction and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: