Brazil real weakens 1 pct as traders fight over month-end rate

RIO DE JANEIRO Thu Nov 29, 2012 9:54am EST

RIO DE JANEIRO Nov 29 (Reuters) - The Brazilian real briefly weakened 1 percent on Thursday as traders tried to obtain a favorable month-end Ptax -- an official exchange rate which is used to settle everything from export payments to foreign loans.

Some investors also pushed the real lower to test the central bank's tolerance to a weaker exchange rate. Last week, the bank intervened to halt the currency's slide when the real neared the level of 2.12 per dollar.

The real last traded 0.8 percent weaker at 2.1070 per dollar, minutes after weakening to as much as 2.1104 per greenback.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.