RIO DE JANEIRO, BRAZIL – Investor confidence in the Brazilian government’s economic agenda is falling, making the real currency one of the worst performing in the world this year, behind only the Libyan dinar and the Sudanese pound.
These two currencies have an excuse for massive one-time devaluations. Not so real, which bears the burden of market anxiety that Brazil’s deteriorating growth, inflation and financial dynamics may soon disappear.
The central bank has spent $ 5 billion in a week to meet the demand for hard currency. But the real thing is still. . .