Brazil’s real declined to a one-week low as concern that Latin America’s largest economy will contract this year for the first time since 2009 made the currency less attractive to investors.
Brazil’s real was headed for a fifth straight weekly decline on the last trading day before the national election as speculation diminished that a new government will revive economic growth.
Most developing-nation currencies declined as Poland said the risk of Russia invading Ukraine has increased in the “last dozen hours or so” after President Vladimir Putin raised the number of troops on his country’s western border.
Brazil’s real fell the most among major currencies as economists surveyed by the central bank lowered their 2014 growth outlook for a sixth straight week.
The real rose 0.5% to 2.2357 per U.S. dollar at 11:07 a.m. in Sao Paulo, the biggest increase among 24 developing-nation currencies tracked by Bloomberg.
