Brazil devalues real to restore confidence SAO PAULO — Brazil effectively devalues its currency, the real, about 7.5%. The resignation of Brazil's central-bank president spurred the government to adopt a more flexible interest rate policy and currency. Analysts say foreign companies, such as Ford Motor Co., General Motors Corp., Volkswagen AG and Fiat SpA, which all have plants in Brazil, may be hurt in the short term but the move was inevitable. The real had long been considered ...
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