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U.S. Dollar Closes at Highest Rate Since June in Brazil

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Brazil’s financial market registered heightened volatility on Thursday, December 1st, with the U.S. dollar closing at its highest rate since June against the Brazilian real and the São Paulo Stock Exchange registering the steepest decline in ten months. Government officials, however, say the current political turbulence in the federal government is not influencing domestic financial markets.

“The fiscal adjustment, I believe, is not at the mercy of momentary political events. It is the result of an awareness that a structural fiscal adjustment in Brazil is necessary and . . .

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