Brazilian Real Plunges to Record Low Against Dollar
- Real is worst-performing currency in the world this year
- Central bank held three $1b foreign-exchange swaps on Thursday
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Brazil’s economy minister blamed the real’s slide to an all-time low on the coronavirus outbreak and said the currency could weaken to as much as 5 per dollar if he “messes up.”
Paulo Guedes said the real is weakening largely due to the economic impact of the epidemic, rather than a change in the country’s risk perception. The currency fell to a record intraday low of 4.6655 per dollar on Thursday even after the central bank stepped in three times to support it.