Tag: Real currency

• Friday, November 6th 2015 - 09:26 UTC

  Brazil central bank moves 4.5% inflation target timeframe to 2017

  

  The Brazilian central bank will take the necessary measures to bring inflation back to the 4.5% target in 2017, bank director Altamir Lopes, said on Thursday. It is the first time the bank has given a timeframe for reaching the center of its official target range after it dropped its outlook to meet this goal late 2016 due to a weaker Brazilian currency.

• Wednesday, September 23rd 2015 - 07:05 UTC

  Brazil's currency falls to its weakest level against the US dollar, 4.06 Reais

  

  Brazil's currency fell to its weakest level ever as investors cast a wary eye on negotiations over spending bills that could further complicate the country's tenuous fiscal position. The currency, like others across Latin America, was also hammered by a global rise in the dollar sparked by increased expectations that the US Federal Reserve is still on track to raise interest rates this year.

• Friday, July 24th 2015 - 10:39 UTC

  Brazilian currency and markets drop on latest fiscal savings goals

  

  Brazil's currency, the Real, tumbled on Thursday after the government announced it would slash its fiscal savings goals for this year and next, raising investor fears that the country may lose its investment-grade credit rating.

• Saturday, May 16th 2015 - 07:46 UTC

  Levy tries to convince investors in London that Brazil slowdown is temporary

  

  Brazilian Finance Minister Joaquim Levy said he expected the country’s economic slowdown to be temporary and that fiscal discipline remained central to ensuring the recovery as a commodity price boom waned. Addressing investors in London, Levy said fiscal discipline was needed to cushion the economy against the inflationary effects of the falling Real currency.

• Friday, March 27th 2015 - 08:31 UTC

  Brazilian industry confident depreciation of the currency will help spur exports

  

  Brazil's private sector believes the depreciation of the Real against the dollar can help spur a manufacturing sector recovery even though the business climate has been affected by the Petrobras scandal, an official with the Federation of Industries of the State of São Paulo, Fiesp, said.

• Thursday, March 26th 2015 - 09:07 UTC

  Brazil central bank will cease forex intervention program as of April

  

  Brazil's central bank announced on Tuesday it will not extend its currency intervention program past March 31 as a combination of political problems at home and fears of higher U.S. interest rates push the Real near its lowest levels in a decade. The bank will, however, roll over all swaps expiring after May 1.

• Friday, March 20th 2015 - 07:19 UTC

  Brazil's Real drops to lowest since April 2003; loss of 17% against the dollar this year

  

  No end to Brazil's economic woes: the Brazilian currency depreciated 2.7% on Thursday, at 3.30 Reales to the US dollar, its worst performance since April 2003. With this loss of ground the Real cut short a three day recovery, because since last Monday it had been climbing against the greenback.

• Friday, March 13th 2015 - 12:03 UTC

  Brazil's Levy says austerity measures are more important than a weak currency

  

  Brazil's economic growth depends more on the approval of austerity measures needed to rebuild investor confidence than on a weaker currency, Finance Minister Joaquim Levy told O Globo newspaper.

• Friday, March 6th 2015 - 08:44 UTC

  The Brazilian currency slides past three to the dollar, fist time since 2004

  

  Brazil's currency, the Real slid past three to the dollar (3.01) for the first time in 10 years on Thursday, in the latest sign of weakness of Latin America's largest economy.

• Wednesday, March 4th 2015 - 06:14 UTC

  Brazil's currency at its weakest since September 2004...and sliding

  

  The Brazilian Real reached on Tuesday its weakest level against the dollar in more than 10 years, amid concern the country’s political and economic situation is growing worse.