Brazil’s real fell to its lowest level since its introduction two decades ago and stocks fell on concern that President Dilma Rousseff will fail to shore up the country’s budget and avoid further credit-rating cuts.
The currency sank to as low as 4.0665 per dollar, the weakest intraday level since it was created in 1994, and finished the day 1.6 percent lower in Sao Paulo. The benchmark equity gauge Ibovespa slumped 0.7 percent to 46,264.61 at the close of trading, with state-run oil producer Petroleo Brasileiro SA contributing the most to the gauge’s drop.
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