Brazilian real plummets against dollar

RIO DE JANEIRO: Brazilian financial markets plummeted on opening Thursday in the wake of a bombshell report that President Michel Temer approved paying hush money to a corrupt politician.

The real fell 5.46 percent against the dollar to 3.315, down from 3.134 at closing Wednesday, CMA consultants said. This reversed a steady strengthening that reflected gradual renewal of investor confidence in Latin America's biggest economy after two years of recession.