Brazil's currency hits record low on pessimism over budget
Sao Paulo
BRAZIL'S real fell to its lowest level since its introduction two decades ago on concern that President Dilma Rousseff won't be able to shore up the country's budget and avoid further credit-rating cuts.
The currency sank to as low as 4.0142 per US dollar, the weakest intraday level since its introduction in 1994. The real has tumbled 5.7 per cent since Standard & Poor's cut the nation to junk on Sept 9, and concern is mounting that the country may face further downgrades amid a pol…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea’s economic growth beats forecast as exports rise
China 2024 growth outlook raised to 4.8%, deflation risk lingers
Luxury sector outlook clouded by China’s slow recovery
‘We aren’t going anywhere’: TikTok CEO expects to defeat US restrictions
TikTok artists and advertisers to stay with app until ‘door slams shut’
Biden signs Ukraine aid, TikTok ban Bills after Republican battle