Brazil’s Real Down on Dubai World Debt
The Brazilian currency was one of the multiple affected by a Dubai debt payment delay, setting the emergent market real to the third consecutive losing week versus the greenback.
Dubai World, a government owned investment company affirmed yesterday that its debt payments will be delayed, causing a risk off session today in currency markets, affecting mostly commodity exporter and emergent markets currency, forcing the real down as it fall in both categories.
USD/BRL traded at 1.7495 as of 17:16 GMT from a closing price of 1.7255 yesterday.
If you want to comment on the Brazilian real’s recent action or have any questions regarding this currency, please, feel free to reply below.
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