Brazil's real continues its slump amid election uncertainty

SAO PAULO - Brazil's currency is falling again against the dollar amid uncertainty over this year's elections in Latin America's largest economy.

Brazil's real was trading around $0.27 on Tuesday — its lowest price in more than two years. The Brazilian currency has fallen about 10 per cent against the dollar this year.

The slide is partially due to the strength of the dollar, which has been gaining against several currencies. But the fall also stems from concerns about Brazil.

Brazil's economy has started to grow again after a protracted recession, but investors are concerned about the future. The country will elect a new president in October, and many market-watchers are worried that the next leader could halt or reverse economic reforms begun by President Michel Temer. Markets have largely supported those reforms.


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