Brazilian Real Declines Again on Slow Economic Recover

The Brazilian Real had an extreme volatile week, declining again towards the end of this week’s session after hitting the highest rate in 2009 versus the greenback days earlier.

A rather bearish tone in commodities and equities markets towards the end of this week’s session affected negatively the performance of the emergent-market Brazilian currency, as traders opted for safety considering statements made in the G-20 meeting and a drop in U.S. durable good orders.

USD/BRL traded at 1.8003 as of 18:19 GMT from an opening rate of 1.7870 this Friday.

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