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.
Earlier News About the Brazilian Real:
- Commodities Force Brazilian Real Up (2009-11-23)
- Growth Forecast Sets Brazilian Real High (2009-11-16)
- Brazilian Real Ends Losing Streak on Global Optimism (2009-11-14)
- Brazilian Real Down on Intervention Talks (2009-11-12)
- Brazilian Real Rises on G-20 Stimulus (2009-11-09)
