Brazil sells dollars as real falls to record low

The Central Bank of Brazil
Photo: Central Bank of Brazil

The Central Bank of Brazil intervened in the foreign exchange market on November 26 to support the real, which fell to a new record low against the dollar.

The currency declined to 4.277 yesterday, following comments by finance minister Paulo Guedes that a weaker real was not a source of concern, and merely reflected lower interest rates.

Since July 19, the real has depreciated by 11.3% against the dollar, and was trading around 4.25 per dollar today (November 27). During this period, the

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