BRASILIA: The U.S. dollar rose to another record high against the Brazilian real. The real, one of the worst-performing emerging-markets currencies of 2015, traded at 3.67 USDBRL, -0.0595% to the dollar, down 2.3% from its level late Friday in New York.
The real moved lower even as other emerging-markets currencies recovered from last week’s selloff. The Turkish lira, another one of this year’s worst performers, traded at 2.91 lira USDTRY, +0.0478% to the dollar, up 0.4% since Friday. Brazil’s economy is dependent on commodity exports, and its currency has been battered as prices have fallen over the past year. Political issues stemming from a corruption scandal at the state-controlled energy firm Petrobras have also shaken confidence in the country’s government.
Pakistan to get $3b loan from Islamic Trade Financing Corporation
ISLAMABAD: Islamic Trade Financing Corporation (ITFC) to provide Pakistan with a $3 billion loan, according to an official statement released...
