Brazil’s real traded within a centavo of a four-month low as the biggest foreign-exchange net outflow in a decade weighed on the currency.
The real was little changed at 2.3943 per U.S. dollar at 9:51 a.m. in Sao Paulo after declining yesterday to 2.3968, the weakest level since Aug. 22. Swap rates on contracts maturing in January 2017 increased two basis points, or 0.02 percentage point, to 12.34 percent.
The central bank reported yesterday a foreign-exchange net outflow of $12.26 billion in 2013, the biggest since 2002, when the real tumbled to almost 4 per dollar. The currency fell 13 percent last year amid concern fiscal deterioration will lead to a lower credit rating.
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