Brazilian real hits new low as c bank cuts rates

BRAZIL - The Brazilian real has closed at a record low against the dollar after the country's central bank announced a surprise cut in interest rates.

One dollar was worth 2.897 real late at the close of trading on Wednesday, compared with 2.873 real twenty-four hours earlier. The real's latest decline came after the Brazilian central bank cut interest rates by half a percentage point to 18% in a bid to kick-start the country's faltering economy.

Debt worries continue

The currency's weakness

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