The Brazilian real crashed to the record low level against the US dollar today following the earlier attempt to rally.
The real had surged 1 percent after the Brazilian Congress voted for legislation that prevents an increase of public expenditures. Yet the currency has reversed its rally, falling 1.9 percent, amid concerns about global economic slowdown. Moreover, Brazilian policy makers are yet to vote for the key presidential veto that should prevent a surge of salaries.
USD/BRL traded at 4.17 as of 21:49 GMT today.
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