Sept. 21 (Bloomberg) -- Brazil’s real tumbled, bringing its decline this month to 15 percent as the worst performer in Latin America, on growing concern the central bank is mismanaging interest-rate policy at a time when global economic conditions are deteriorating.
The real extended losses after Federal Reserve policy makers said there are “significant downside risks to the economic outlook.” The currency slumped as much as 5.8 percent to a 16-month low of 1.8960 per dollar and ended trading down 4.8 percent at 1.8756 as of 5 p.m. in New York.
The real extended losses after Federal Reserve policy makers said there are “significant downside risks to the economic outlook.” The currency slumped as much as 5.8 percent to a 16-month low of 1.8960 per dollar and ended trading down 4.8 percent at 1.8756 as of 5 p.m. in New York.
