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Brazil's real falls below 4.00 per dollar for first time since May

Kitco News

BRASILIA, Aug 12 (Reuters) - Brazil’s real weakened sharply on Monday, falling below 4.00 per dollar for the first time since late May as local markets felt the heat from surging market volatility and political uncertainty in neighboring Argentina.

In early trading the dollar was up 1.8% at 4.01 reais , the highest since May 29.

Argentina’s peso lost around a quarter of its value at the open on Monday to trade at 60 per dollar, traders said, after voters soundly rejected President Mauricio Macri’s austere economic policies in primary elections, casting serious doubt on his chances of re-election in October. (Reporting by Jamie McGeever Editing by Chizu Nomiyama)

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