Brazil's Currency Hits Lowest Level Since January

SAO PAULO, Brazil (AP) - Brazil's currency has sunk to its lowest level against the U.S. dollar since January, as global market instability prompts investors to pull out of emerging markets.

The real closed Thursday at 1.81 to the dollar - a 1.68 percent drop for the day. It is the real's weakest point since Jan. 23, when it closed at 1.82 per dollar.

Analysts said investors decided to buy dollars and return to more secure investments, such as U.S. Treasury bonds.

The real has fallen more than 11 percent against the dollar so far this month.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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