Sharp drop in currency adds to growing list of woes in Brazil

Vinod Sreeharsha – The New York Times, 9/24/2015 

Since it was created in 1994, the Brazilian currency, the real, has been synonymous with the country’s return to financial stability and its subsequent ascent as an economic power.

But a stunning decline in the value of the currency — dropping to a record low against the dollar this week — is now the latest blow to Brazilian businesses struggling with recession.

The weakness in the real is causing companies to delay plans and deals, and the market for initial public offerings has been effectively frozen.

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