Brazil's currency weakens

30 Dec, 2007

Brazil's currency weakened more than 1 percent against the US dollar on Friday in thin trading ahead of the New Year's holiday. The real weakened to 1.781 per dollar from Thursday's close of 1.761.
Traders said investors sought to push the currency lower to set a more favourable end-of-the-month Ptax, an average exchange rate used to settle currency futures contracts.

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