April 22, 2020 / 2:00 PM / 4 months ago

Brazil's real falls to a record low of 5.3750 per dollar

BRASILIA, April 22 (Reuters) - Brazil’s real weakened on Wednesday to a fresh all-time low of 5.3750 per dollar, as expectations intensified that the central bank will cut interest rates by a significant amount in the coming weeks to combat the coronavirus-fueled economic crisis.

January 2021 interest rate futures plummeted below 2.60% from 2.80% on Monday, the day before local markets were closed for a holiday, and the real’s slide means it has now lost 25% of its value against the dollar so far this year. (Reporting by Jamie McGeever Editing by Chizu Nomiyama)

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