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Real Falls as Rousseff Wants to Ease Fiscal Rules, Recovers

November 12, 2014 at 14:42 by Vladimir Vyun

Brazilian coins on 50-real billsThe Brazilian real gained today after the earlier decline. The currency fell earlier as President Dilma Rousseff wanted to ease fiscal rules. Such measure will reduce the budget deficit that reached the highest level in more than a decade.

Rousseff submitted a bill, which will allow to discount bigger amount from this year’s primary budget. If Congress passes the legislation, the government will be able to reach the budget target even amid economic slowdown. The real’s volatility remains highest among most traded currencies after the current President won elections last month.

USD/BRL fell by 0.47 percent to 2.5444 as of 14:42 GMT today.

If you have any questions, comments, or opinions regarding the Brazilian Real, feel free to post them using the commentary form below.

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