Brazil's real continues its slump amid election uncertainty

SAO PAULO — Brazil's currency is falling again against the dollar amid uncertainty over this year's elections in Latin America's largest economy.

Brazil's real was trading around $0.27 on Tuesday — its lowest price in more than two years. The Brazilian currency has fallen about 10 percent against the dollar this year.

The slide is partially due to the strength of the dollar, which has been gaining against several currencies. But the fall also stems from concerns about Brazil.

Brazil's economy has started to grow again after a protracted recession, but investors are concerned about the future. The country will elect a new president in October, and many market-watchers are worried that the next leader could halt or reverse economic reforms begun by President Michel Temer. Markets have largely supported those reforms.

People also read these

WhatsApp is going to share your phone number with Facebook

Aug 25, 2016

Global messaging service WhatsApp says it will start sharing users' phone numbers with Facebook, its parent company

Yellen suggests rate hike is coming but offers no timetable

Aug 26, 2016

Yellen says 'the case for an increase' in rates has strengthened but offers no timetable

Tough economic outlook in Brazil after president removed

Aug 31, 2016

There's a tough road ahead for Latin America's largest economy after ouster of President Dilma Rousseff

Subscribe to our newsletter!

Your Name

Your Email Address