SAO PAULO (AP) — Brazil’s currency is falling against the U.S. dollar, continuing a slide fueled by uncertainty ahead of presidential elections.
The real fell below $0.25 on Tuesday. It has lost about 20 percent of its value against the American currency in the past year. The last time it was so weak against the dollar was in early 2016.
Part of the slide can be attributed to the dollar’s strength against many currencies. But Brazil’s economy has also struggled to bounce back from a protracted recession, and it’s unclear who will win the October presidential election.
A poll released Monday showed far-right Congressman Jair Bolsonaro maintaining his lead if former President Luiz Inacio da Silva is barred from the race, as expected. Investors tend to prefer a center-right candidate, former Gov. Geraldo Alckmin.