Brazil's Temer sees no currency crisis; central bank vows to keep acting

Brazil's Temer sees no currency crisis; central bank vows to keep acting

Chamber Articles Category: Economic News Post Date: 06/08/18 Source: Reuters By: Mateus Maia, Lisandra Paraguassu
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BRASILIA (Reuters) - Brazilian President Michel Temer said on Thursday there was no risk of a currency crisis in Latin America’s largest economy despite sharp falls in the exchange rate, while the central bank chief pledged to maintain the bank’s intervention in the market.

The Brazilian real plummeted to its weakest level in more than two years on Thursday, at 3.9671 to the dollar, amid concerns over the country’s fiscal outlook and uncertainty surrounding October’s wide-open presidential election to select a successor to market-friendly Temer. Read Full Article