Brazil worries prompt real rollercoaster
MARKET NEWS
SAO PAULO -- The Brazilian real slumped to a fresh record low last week, as comments from senior officials sent traders into a selling spree.
But later in the week, after hitting an all-time low of 3.47 real per dollar on Wednesday (July 31), the currency jumped over 6% to around 3.10 per dollar on Friday (August 2). Analysts said ongoing discussions with the International Monetary Fund over a possible aid package had helped the pullback.
But fears have also been mounting that Brazil may be
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