Why Brazil’s currency is plunging
Fiscal and monetary policy are now pitted against one another
THE BRAZILIAN real holds an ignominious title this year: it is the worst-performing major currency, down by more than 20% to a record low of almost 6.3 to the dollar. The situation has grown even uglier over the past week, with the sell-off accelerating despite several interventions by the central bank.
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This article appeared in the Finance & economics section of the print edition under the headline “The market revolts”
From the December 21st 2024 edition
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