Brazil's real hits weakest level since April 2009
RIO DE JANEIRO, July 10
RIO DE JANEIRO, July 10 (Reuters) - The Brazilian real added to losses on Wednesday afternoon, hitting its weakest level in over four years, as investors feared the U.S. Federal Reserve could signal later in the day that it is about to cut back on its stimulus program.
The real lost 0.7 percent to 2.2781 per dollar, its weakest level since the beginning of April, 2009. Investors fear that the withdrawal of U.S. stimulus may reduce the flow of dollars to emerging-market countries such as Brazil.
Investors were also cautious before an interest-rate decision by the Brazilian central bank later on Wednesday. The bank is widely expected to increase the country's base Selic rate by half a percentage point to 8.50 percent, in an attempt to contain inflation.
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